Feds deny tax savings on multiple home sales

Rule puts limit on how often exemption can be used
Published on Dec 4, 2006

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by CareyBot

DEAR BOB: Regarding the Internal Revenue Code 121 principal residence sale tax exemption up to $250,000 (up to $500,000 for a married couple), we own two houses for which we meet the 24-out-of-last-60-month ownership and occupancy requirement on both. One ...