Do You Owe Capital Gains Tax When You Sell a Home?
Most homeowners qualify for a capital gains exclusion when they sell their primary residence, meaning you may exclude up to $250,000 ($500,000 married) if you meet ownership and use tests; consult a tax pro to confirm eligibility and reporting requirements. Key Takeaways: You can exclude up to $250,000 of gain ($500,000 if married filing jointly)…