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 orClick here for more
Archive for the ‘Sale of Principal Residence’ Category.
Usually, profits you earn are taxable. However, in selling your home, you may not have to pay taxes on the money you gain. Here are ten tips to keep in mind if you sell your home this year. Exclusion of Gain. You may be able to exclude part or all ofClick here for more