30-Dec-20
IRC 121 – Gain Exclusion on the Sale of a Principal Residence
Take-Away: The Internal Revenue Code provides the exclusion of gains from the sale of a primary home from taxable income. This rule allows married sellers who file joint tax returns to exclude as much as $500,000 and a single filer to exclude up to $250,000 of gains on the sale of a primary residence. While […]
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