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Archive for the ‘Sale of Principal Residence’ Category.

Important Tax Reminders For People Selling A Home

IRS explains in Tax Tip 2022-78 the application of IRC Sec 121- Exclusion of Gain on Sale of a Principal Residence, $250,000 per spouse--keep in mind that the home must be your Main Home and you must BOTH Own and Live in it or use it for at ;least 2 years, 34 months or 730 days in the 5 ...

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Homeownership And Taxes: Things Taxpayers Should Consider When Selling A House

IRS explains in Tax Tip 2021-23 the application of IRC Sec 121- Exclusion of Gain on Sale of a Principal Residence, $250,000 per spouse--keep in mind that the home must be your Main Home and you must BOTH Own and Live in it or use it for at ;least 2 years, 34 months or 730 days in the 5 ye...

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Tax tips for taxpayers to consider when selling their home

IRS explains the application of IRC Sec 121- Exclusion of Gain on Sale of a Principal Residence, $250,000 per spouse--keep in mind that the home must be your Main Home and you must BOTH Own and Live in it or use it for at ;least 2 years, 34 months or 730 days in the 5 year window prior to ...

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