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   What is publication 523?

   • Publication 523 explains tax rules that apply when you sell your main home. This publication explains the tax rules that apply when you sell (or otherwise give up ownership of) a home.

   About Publication 523, Selling Your Home - IRS tax forms

   www.irs.gov/forms-pubs/about-publication-523

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   What is the IRS capital gains home sale exclusion?

   • The IRS capital gains home sale exclusion can be a valuable tax-saving tool if you are eligible. As a homeowner, you may have concerns about paying capital gains tax when you decide to sell your home. Luckily, there is a tax provision known as the " Section 121 Exclusion " that can help you save on taxes following a home sale.

   Capital Gains Tax Exclusion for Homeowners: What to Know

   www.kiplinger.com/taxes/capital-gains-home-sale-exclusion

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   How much capital gain can I exclude from my income?

   • If you have a capital gain from the sale of your main home, you may qualify to exclude up to $250,000 of that gain from your income, or up to $500,000 of that gain if you file a joint return with your spouse. Publication 523, Selling Your Home provides rules and worksheets. Topic no. 409 covers general capital gain and loss information.

   Topic no. 701, Sale of your home | Internal Revenue Service

   www.irs.gov/taxtopics/tc701

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   What is a capital gains tax exclusion?

   • In simple terms, this capital gains tax exclusion enables homeowners who meet specific requirements to exclude up to $250,000 (or up to $500,000 for married couples filing jointly) of capital gains from the sale of their primary residence.

   Capital Gains Tax Exclusion for Homeowners: What to Know

   www.kiplinger.com/taxes/capital-gains-home-sale-exclusion

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2. www.irs.gov › publications › p523Publication 523 (2023), Selling Your Home | Internal Revenue ...

   www.irs.gov › publications › p523

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   The tax code recognizes the importance of home ownership by allowing you to exclude gain when you sell your main home. To qualify for the maximum exclusion of gain ($250,000 or $500,000 if married filing jointly), you must meet the Eligibility Test, explained later.

   • About Publication 523, Selling Your Home

     This publication explains the tax rules that apply when you...

   • Topic No. 701

     If you have a capital gain from the sale of your main home,...

   • 2016 Publication 523

     Updated Information for 2016 Publication 523. As explained...

3. www.kiplinger.com › taxes › capital-gains-home-saleCapital Gains Tax Exclusion for Homeowners: What to Know

   www.kiplinger.com › taxes › capital-gains-home-sale

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   May 5, 2024 · In simple terms, this capital gains tax exclusion enables homeowners who meet specific requirements to exclude up to $250,000 (or up to $500,000 for married couples filing jointly) of capital...

4. turbotax.intuit.com › tax-tips › home-ownershipTax Aspects of Home Ownership: Selling a Home - TurboTax

   turbotax.intuit.com › tax-tips › home-ownership

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   Apr 11, 2024 · If your profit exceeds the $250,000 or $500,000 limit, the excess is reported as a capital gain on Schedule D. How do I qualify for this tax break? There are three tests you must meet in order to treat the gain from the sale of your main home as tax-free:

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5. www.homes.com › blog › 2021How To Save On Capital Gains Taxes After Selling Your Home

   www.homes.com › blog › 2021

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   Apr 26, 2021 · See IRS Publication 523 for more details regarding exclusion criteria. Calculating capital gains taxes on a home sale. Property sales price ─ property cost = No capital gains if less than $250,000 and meets the qualifications listed above ($500,000 for a joint return). See below for more information on the definition of property cost.