- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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...
May 31, 2019
10:32 PM