if you are single and have lived in and owned the home for at least 2 years out of the 5 years before the sale unless you used the home sale exclusion within 2 years before this sale, you are entitled to exclude $250,000 of gain. $500,000 if married and your spouse lived in the home for 2 years out of 5 before the sale. The spouse does not have to have an ownership interest.
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