Selling Your Home(s)

This tax guide provides tips for taking full advantage of a law that creates an unusual opportunity to amass a substantial amount of money over a lifetime. Provided they have lived in a home for more than two years, homeowners can avail themselves of the 'Exclusion of Gain from Sale of Principal Residence', which allows them to exclude from capital gain taxes up to $500,000 from the sale of a home. Important regulations related to the law are discussed, including married persons rules, strategies for claiming exclusions, and the effect of divorce on exclusions. Detailed accounts of new IRS regulations are also addressed.Crouch, Holmes F. is the author of 'Selling Your Home(s)', published 2004 under ISBN 9780944817728 and ISBN 0944817726.