Don’t pay tax on a home sale

The law lets you sell your home tax-free if you meet certain requirements. The home must have been owned and used as your principal residence for at least two of the five years prior to the sale. Couples can enjoy up to $500,000 of tax-free profits from a home sale, while singles qualify for up to $250,000 of tax-free gain.

 

To the extent possible, time home sales to meet the requirements in order to enjoy tax-free profits.

Post by Appelrouth