Taxes Services

Primary Residence Exclusion

One of the significant benefits for homeowners is the ability to exclude a portion of their capital gains from taxes when selling their primary residence. Individuals can exclude up to $250,000 of profit, and married couples can exclude up to $500,000. However, to qualify, you must have lived in the house for at least two of the five years preceding the sale.

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For personalized advice, consider consulting a tax professional or a real estate attorney who can provide specific guidance based on your situation.

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