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Home Sale Exclusion Modified for 2009.

Image by Maggie T via Flickr The home sale exclusion is one of the most popular tax breaks in the Tax Code. A married couple filing jointly can generally exclude up to $500,000 in gain (single individuals up to $250,000). Before the new law, if a second home becomes a principal residence, after two years the owner could sell it and exclude up to $250,000 in gain from their income or up to $500,000...

February 20th, 2009 by The Tax Man 
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