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Did you know?

Did you know? The gain on the sale of a personal residence up to $250K(500K if married filing jointly) is excluded from taxable income.

What does this mean? If you sell your home (primary residence) and make a profit of $250,000 you do NOT have to report that income. It is not taxable and one of the great social goals that the IRS provides. From a social standpoint, this helps a family afford a new home, or pay for kids college tuition.


Patrice L Stewart
"The Tax Daugher"
www.patricelstewart.com

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