I understand that up to $ 250,000 per person of home sale profit is exempt from capital gains taxes and that married couples are entitled to exempt up to $ 500,000. (asklizweston.com)
But first some good news: Unlike other investments, home sale profits benefit from a number of tax breaks that might exempt you from capital gains tax entirely. (realtor.com)
If you fail to meet IRS qualifications for your primary residence and must relocate due to uncontrollable circumstances such as a decrease in income or a job transfer, you may still qualify for a partial tax exemption on your home sale profits. (sapling.com)