2022 Sale of Home Exclusion Details
Taxpayers can exclude up to $500,000 of capital gains from any gains on the sale of their primary residence if they meet specific requirements. To qualify the seller must have lived in the home as their primary residence for at least two of the past five years at the time of sale. If the seller is considered active duty military, the time is extended to two out of the previous ten years at the time of the sale.