RichardG
New Member

Deductions & credits

If you lived in the house two of the last five years, up to $250,000 ($500,000 if filing a joint return) in capital gain is exempt from federal income tax.  There's no requirement that you purchase a replacement home.

Please follow this link for more information.  https://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/Tax-Aspects-of-Home-Ownership--Selling...

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