Under certain conditions, a single homeowner may exempt up to how much in gains from the sale of a home?
A) $500,000
B) $300,000
C) $250,000
D) $125,000

Question

Quizplus · Accepted Answer

A single homeowner may exempt up to $250,000 in gains from the sale of a home if they have owned and used the property as a primary residence for at least two of the previous five years. This exemption can be used once every two years.

Under Certain Conditions, a Single Homeowner May Exempt Up to How