home sale gain exclusion Hear it!

home sale gain exclusion Finance Definition
The ability to exclude up to $250,000 of gain from the sale of an owner-occupied house for a single tax filer and up to $500,000 of gain for married joint filers. Those claiming the exclusion must have lived in the house for two of the last five years. A person or married couple can only use the exclusion once.

Browse dictionary entries near home sale gain exclusion

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  2. ‹ home rule
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  5. ‹ home plate
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  7. ‹ Home Office
  8. ‹ home-from-home
  9. ‹ home fries
  10. ‹ home equity credit line
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