701 May 2026

: If you used part of your home for business or rented it out, special rules apply that might limit your exclusion.

: You generally cannot have used the exclusion for another home sale in the two years prior to the current sale. Important "Gotchas" and Nuances : If you used part of your home

To qualify for this exclusion, you generally must meet two main tests within the ending on the date of the sale: For financial advice, consult a professional

AI responses may include mistakes. For financial advice, consult a professional. Learn more Topic no. 701, Sale of your home | Internal Revenue Service In federal taxation, specifically addresses the Sale of

: Can exclude up to $500,000 of capital gains.

In federal taxation, specifically addresses the Sale of Your Home , a critical subject for anyone looking to understand the tax implications of selling a primary residence. The $250,000 / $500,000 Exclusion

: If your spouse passed away, you may still qualify for the full $500,000 exclusion if the sale occurs within two years of their death and other criteria are met.