701

: You must have owned the home for at least 24 months (two years).

The centerpiece of Topic 701 is the , which allows homeowners to sell their primary residence and exclude a massive portion of their profit from federal income tax: Single Filers : Can exclude up to $250,000 of capital gains. : You must have owned the home for

: If you used part of your home for business or rented it out, special rules apply that might limit your exclusion. : You must have owned the home for