Section 121 Exclusion – Capital Gains Exemption for Home Sellers

If you sell your home for more than you paid for it, you might have to pay taxes on your profit. Luckily, the IRS allows an exemption for homeowners selling their primary residence. Usually, it’s $500,000 for married couples, and $250,000 for individuals. This article covers the basis of that exemption, which the IRS calls […]