Primary Residence Exclusion: When Selling Your Home is Tax-Free

Homeowners selling their primary residence can often exclude up to $250,000 (single) or $500,000 (married) of gain from taxes.

You Must:

• Own and live in the home for 2 of the last 5 years.

• Not have used the exclusion within the last two years.

Pro Tip: Keep track of home improvements. They increase your cost basis and reduce taxable gain.

💡 Key Takeaway: Timing and documentation turn a home sale into a nearly tax-free event.

⚠️ This blog is for informational purposes only and does not constitute tax, legal, or accounting advice. Please consult your CPA for guidance specific to your situation.