Quick Read A married couple can exclude up to $1,000,000 in combined capital gains from federal taxation by using the Section 121 home-sale exclusion twice within 8 years, representing approximately ...

n today’s hot housing market, many taxpayers are selling their residences and moving. The tax code aids this endeavor: Under IRC section 121(a) and (b), taxpayers can exclude up to $250,000 of the ...

Many home sellers have seen rapid appreciation of their home’s value in recent years, leaving them vulnerable to capital gains beyond the principal-residence exclusion under IRC section 121of $250,000 ...