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Money Crashers
The Home Sale Exclusion Is One of the Largest Tax Breaks Available
Live in your primary residence for at least two of the last five years and you can exclude up to $250,000 of profit from capital gains tax when you sell, or $500,000 for married couples. Keep records of home improvements, which raise your cost basis and shrink the taxable gain. Learn the residency rule before you list, not after.
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