: You must have owned the home for at least 24 months (two years).
AI responses may include mistakes. For financial advice, consult a professional. Learn more Topic no. 701, Sale of your home | Internal Revenue Service : You must have owned the home for
: If your spouse passed away, you may still qualify for the full $500,000 exclusion if the sale occurs within two years of their death and other criteria are met. Learn more Topic no
: You generally cannot have used the exclusion for another home sale in the two years prior to the current sale. Important "Gotchas" and Nuances Important "Gotchas" and Nuances : If your profit
: If your profit exceeds the exclusion limits, you can often reduce your taxable gain by adding the cost of major home improvements (like a new roof or kitchen remodel) to your "cost basis".