You are exempt from $ 250,000 of profit — $ 500,000 for married couples —
on your principal residence providing you have both lived in and owned the house at least two of the five years prior to the sale.
Not exact matches
Benefits, including employee contributions, are not payable for employee hardships, unforeseeable emergencies, loans, medical expenses, educational expenses, purchase of a
principal residence, payments necessary to prevent eviction or foreclosure
on an employee's
principal residence, or any other reason except a requested distribution for retirement, a mandatory de minimis distribution authorized by the administrator, or a required minimum distribution
provided pursuant to the Internal Revenue Code.
n) You and / or Your Traveling Companion are hijacked, quarantined, required to serve
on a jury, subpoenaed, required to appear as a witness in a legal action,
provided You or Your Traveling Companion are not a party to the legal action or appearing as a law enforcement officer; the victim of felonious assault; having Your
principal place of
residence made inaccessible and uninhabitable by a Natural Disaster; or burglary or vandalism of Your
principal place of
residence within 10 days of departure.