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re: Gains from Sale of House

Posted on 11/28/16 at 1:59 pm to
Posted by NEWBIE
Member since Jun 2008
196 posts
Posted on 11/28/16 at 1:59 pm to
Section 121

If there was a gain, it would not be recognized if you have resided in the property for 2 of the last 5 years.
This post was edited on 11/28/16 at 2:02 pm
Posted by ThatsAFactJack
East Coast
Member since Sep 2012
1548 posts
Posted on 11/28/16 at 2:01 pm to
So anything under $250,000 for single or $500,000 for joint is excluded from taxes?
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