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Just sold your home? Here’s how to take advantage of one of the most valuable personal income tax breaks on the books

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It’s a seller’s market in some areas, and big home-sale gains are likely. Great, if you’re a seller. But what about taxes?


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For all the obvious reasons, many suburban real estate markets are red hot. In these seller’s markets, big home-sale gains are likely. Great, if you’re a seller. But what about taxes?

If you sell your main home for a healthy profit, the federal income tax home-sale gain exclusion can be one of the most valuable breaks on the books. You can potentially exclude (pay no federal income tax on) up to $250,000 of home-sale profit or up…



Source marketwatch.com

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