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Get your taxes done using TurboTax
You can get that exclusion for the sale but you won't get it again in the future because the exclusion can only be taken by individuals and disregarded entities and S-CORPs don't qualify. With a personal main residence the excess over the exclusion amount is just capital gain. If you bought the house your basis is your cost plus any improvements you made.
March 31, 2021
6:25 PM