Homeowners with appreciated principal residences can avoid tax on gains of up to $500,000 if married and filing jointly and up to $250,000 if single.The home must have been owned and used as the taxpayer's private residence for two out of the last five years prior to the date of sale.

Question

Quizplus · Accepted Answer

This is true according to the tax laws in the United States.

Homeowners with Appreciated Principal Residences Can Avoid Tax on Gains