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Excluding Gain from the Sale of Your Home at a Glance


If you have a gain from the sale of your main home, you may qualify to exclude up to $250,000 of that gain from your income, if you have owned and used your home as your main home for a period aggregating at least two years out of the five years prior to its date of sale. You may qualify to exclude up to $500,000 of that gain if you file a joint return with your spouse. There are several limitations and exceptions to these general rules.

More Information

Tax Topic 701 - Sale of Your Home

Related Forms

Form 8949, Sales and Other Dispositions of Capital Assets (PDF)

Schedule D (Form 1040), Capital Gains and Losses (PDF)

Related Publications

Publication 17, Your Federal Income Tax - Chapter 15, Selling Your Home - See Excluding the Gain for essential guidance

Publication 523, Selling Your Home - Detailed guidance

Page Last Reviewed or Updated: 23-Nov-2016