Taxpayers meeting certain home ownership and use requirements can permanently exclude up to $1,000,000 of realized gain on the sale of their principal residence.

Question

Quizplus · Accepted Answer

Taxpayers meeting certain home ownership and use requirements can exclude up to $250,000 of realized gain ($500,000 for married couples filing jointly) on the sale of their principal residence, not $1,000,000.

Taxpayers Meeting Certain Home Ownership and Use Requirements Can Permanently