Sentences with phrase «sale of one's main home»

The move brings some stability to a company already struggling with poor sales of its main home console, the Wii U, and the ongoing development of their next system, codenamed the NX.

You can only exclude capital gains from the sale of your main home.

Under these rules, you might not be able to exclude gain on the sale of a main home that qualifies for the exclusion.

If you have a loss on the sale of your main home and received a Form 1099 - S, report the loss on Form 8949.

If you meet the conditions for a capital gains tax exemption, you can exclude up to $ 250,000 of gain on the sale of your main home.

All capital gains (other than profit from the sale of your main home) are required to be reported on your tax return.

You may be able to exclude up to $ 500,000 of the gain on the sale of your main home if you are married and file a joint return.

A loss on the sale of your main home can not be deducted.

If you have more than one home, you can exclude a gain only from the sale of your main home.

Tax Tip # 6: In general, you are only allowed to exclude the gain from the sale of your main home once every 2 years.

Tax Tip # 7: If you own more than 1 home, you can only exclude the gain from the sale of your main home.

This is one of the best options available to sellers who make a profit on the sale of their main home.

Individuals can exclude up to $ 250,000 in profit from the sale of a main home (or $ 500,000 for a married couple filing jointly) as long as you have owned the home and lived in the home for a minimum of two years.

Homeowners may qualify to exclude from their income all or part of any gain from the sale of their main home.

«This means that tax - exempt interest and the excluded gain from the sale of your main home aren't subject to the tax.»