Log in Subscribe

Your home sale and capital gains

Posted 12/23/22

What is the best tax break available to John and Jane Taxpayer? It’s selling their home. When you sell your primary residence, you can make up to $250,000 in profits if you’re single, $500,000 if you’re married; and not owe any capital gains tax. Here are some specifics:

Ownership and use tests. To claim the exclusion, you must meet the ownership and use tests. This means that during the 5-year period ending on the date of the sale, you must have:

This item is available in full to subscribers.

Please log in to continue

Log in