Mary Stone, a single individual, sold a personal residence on June 3, 2014, and excluded her $93,600 gain from gross income. If she sells another personal residence before June 4, 2016, she can exclude a maximum of $156,400 of any gain.

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The maximum exclusion amount for a single individual who sells a personal residence after June 3, 2014, and before January 1, 2021, is $250,000 ($500,000 for married couples filing jointly). Therefore, Mary Stone can exclude up to $250,000 of any gain from the sale of her next personal residence, not $156,400.

Mary Stone, a Single Individual, Sold a Personal Residence on June