How To Exclude Gain On The Sale Of Your Home From Taxes [Tax Smart Daily 005]

Today's topic is the home sale exclusion. The Sec. 121 exclusion permits you to deduct $250,000 in capital gains ($500,000 if married and filing jointly). To qualify, you must follow certain guidelines about ownership and use. This is a tool that every landlord should have in their toolbox, especially if they are house hacking.

Listen in to learn:

• How to qualify for the Sec. 121 exclusion
• The partial exclusion that you can claim if you have to move or change employment

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