Must I pay capital gains tax on the sale of my principal residence?

Long / Short-Term Capital Gains / Losses Read more from
Chapter Taxes

No. The Internal Revenue Service still allows homeowners to exclude gains ranging from $250,000 to $500,000 depending on your filing status under the Internal Revenue Code, Section 121. Because this gain is excluded for regular income tax purposes, it is also excluded for purposes of determining net investment income.


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