701 May 2026

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

For deeper details, the IRS provides Publication 523, Selling Your Home, which includes worksheets to help calculate your specific gain or loss.

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

: You must have owned the home for at least 24 months (two years).

AI responses may include mistakes. For financial advice, consult a professional. Learn more Topic no. 701, Sale of your home | Internal Revenue Service : You must have owned the home for

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

This is a complete exclusion, meaning you don't even have to reinvest the money into a new house to keep the profit tax-free. Core Requirements for the Benefit Learn more Topic no

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