Tax Basis of a Principal Residence: Documentation can Save Tax Dollars

At present, you may be able to exclude a portion or possibly the entire capital gain realized on the sale of your home if certain ownership requirements are met. The requirement is that during the five-year period ending on the date of the sale, you must have owned and used the home as your principal residence for a period aggregating two or more years.

November 23, 2021
  
Beware of little expenses. A small leak will sink a great ship.Benjamin Franklin
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We make a living by what we get, but we make a life by what we give.Winston Churchill
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