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Who qualifies for the $500,000/$250,000 exclusion from taxable income?

April 26, 2017exclusion income qualifies taxable

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Who qualifies for the $500,000/$250,000 exclusion from taxable income?

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A Under current tax laws, for sales of a principal residence after May 6, 1997, married couples can exclude from their taxable income up to $500,000 of gain. Individuals filling separate returns can exclude up to $250,000.