Any gain recognized on the sale of a personal residence is excluded from the seller's gross income.

Name: Any gain recognized on the sale of a personal residence is excluded from the seller's gross income.
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Only a portion of the gain, up to $250,000 for single filers and $500,000 for married couples filing jointly, can be excluded from gross income if the seller meets specific ownership and use criteria. Any gain beyond these limits is subject to capital gains tax.

Any Gain Recognized on the Sale of a Personal Residence