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Do I qualify for $250,000 home-sale tax break?

Realty Tax Tips-Part 1: Rules for occupancy, divorce, death

(This is Part 1 of an eight-part series. Read Part 2, Part 3, Part 4, Part 5, Part 6, Part 7 and Part 8.) Suppose you could receive up to $250,000 tax-free cash. Better yet, suppose you could receive up to $500,000 tax-free. Still better, suppose you could receive this tax-free money over and over again, but not more frequently than once every 24 months. Stop dreaming. It's possible. Thanks to Internal Revenue Code 121, millions of U.S. home sellers enjoy these tax-free benefits each year when selling their principal residences. But it is important to understand the simple rules. Purchase Bob Bruss reports online. HOW TO QUALIFY FOR THIS TAX BREAK. Whether you own and live in a house, condo, cooperative apartment or other type of principal residence, you can qualify for Uncle Sam's most generous tax exemption. To be eligible, you must have owned and occupied your primary dwelling at least 24 of the last 60 months before its sale. Single home sellers can qualify for up to $250,000...

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