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| Build Wealth with a Tax-Free Gain on the Sale of Your Home Category: Cash When a single taxpayer sells his or her principal residence that he or she has owned and used as a principal residence for at least two of the previous five years, the taxpayer may exclude up to $250,000 of the gain from gross income. A married couple who meets the conditions may exclude up to $500,000 of gain.This means that the gain is never taxed. | ||||||
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