IRC 121 cited . Pub. 523

Home Sale Exclusion (Section 121)

Sold your main home? See how much of the gain is tax-free and how much is taxable.

Filing status

Total gain on the sale ($)

Years you owned the home

Years you used it as your main home

Your Section 121 result

Maximum exclusion for your status

Ownership and use test

Gain you can exclude

Gain that stays taxable

Have our office report your home sale

IRC 121 excludes up to $250,000 of gain (single) or $500,000 (married filing jointly) on the sale of a main home, if you owned and used it as your main home for at least 2 of the 5 years before the sale (IRS Pub. 523). The full married amount generally requires both spouses to meet the use test. Partial exclusions can apply for a job move, health, or unforeseen events. Estimates only. Phone 689-331-5723.