- Blog
- Online Newsletter
Principal Residence
A taxpayer can exclude up to $250,000 ($500,000 for married taxpayers) of gain from the sale of the taxpayers’ principal residence if they meet the ownership and residence tests. If a taxpayer alternates between two properties, using each as a residence for successive periods of time, the property that the taxpayer uses a majority of the time during the year is ordinarily considered the taxpayer's principal residence.
Related Articles
Categories
Online Newsletter
»Automotive
»Casualty Losses
»Charity
»Credit Issues
»Dealing With the IRS
»Death of a Taxpayer
»Divorce
»Dollars & Sense
»Education
»Eldercare
»General Tax
»Investments
»Medical Care
»Your Home & Taxes
»Relocation
»Rental Property
»Retirement Planning
»Tax Credits
»Work-Related Expenses
»Your Business
»Health Care Provisions
»2011 Year-End Strategies
»Calculators
»Tax Calendar
»Tax Organizer
»Tax Topic Brochures
»Tax Planning Strategies
»Other Links
»Tax Penalties
»Occupation Brochures
»Tax Terms
»