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  2. Netting $800k from Your Home Sale? Learn How to Minimize ...

    www.aol.com/im-selling-house-netting-800k...

    If your home does qualify for the Section 121 exclusion, you have taxable capital gains of either $550,000 as a single filer ($800,000 – $250,000 = $550,000) or $300,000 as a joint filer ...

  3. Planning to downsize your home in retirement but scared of ...

    www.aol.com/finance/planning-downsize-home...

    The Section 121 exclusion, often called the home sale exclusion, is a provision in the U.S. tax code allowing homeowners to exclude a substantial portion of the capital gains from the sale of ...

  4. Thinking of Moving In? How to Turn Your Rental Property into ...

    www.aol.com/finance/convert-rental-property...

    Section 121 Exclusion. Section 121 of the Internal Revenue Code exempts up to $250,000 (or $500,000 for a married couple filing jointly) of capital gains from the sale of a primary residence if ...

  5. Internal Revenue Code section 1031 - Wikipedia

    en.wikipedia.org/wiki/Internal_Revenue_Code...

    Section 1031(a) of the Internal Revenue Code (26 U.S.C. § 1031) states the recognition rules for realized gains (or losses) that arise as a result of an exchange of like-kind property held for productive use in trade or business or for investment. It states that none of the realized gain or loss will be recognized at the time of the exchange.

  6. Capital loss - Wikipedia

    en.wikipedia.org/wiki/Capital_loss

    According to 26 U.S.C. §121, a capital loss on the sale of a primary residence is generally tax-exempt. [citation needed]. IRC 165(c) is a stronger source that limits the loss on the sale of a personal residence. IRC 121 is for exclusion of gain of primary residence and does not talk about loss. [5]

  7. Like-kind exchange - Wikipedia

    en.wikipedia.org/wiki/Like-kind_exchange

    A like-kind exchange is a type of "non-recognition provision". According to section 1001(c) of the Internal Revenue Code, all realized gains and losses must be recognized "except as otherwise provided in this subtitle". A like-kind exchange is one of the qualified exceptions, serving as the proto-typical "non-recognition provision".

  8. What Is a Section 121 Exclusion? - AOL

    www.aol.com/news/section-121-exclusion-183007717...

    A Section 121 Exclusion is an Internal Revenue Service rule that allows you to exclude from taxable income a gain of up to $250,000 from the sale of your principal residence. A couple filing a ...

  9. Capital gains tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Capital_gains_tax_in_the...

    Section 121 [50] lets an individual exclude from gross income up to $250,000 ($500,000 for a married couple filing jointly) of gains on the sale of real property if the owner owned and used it as primary residence for two of the five years before the date of sale. The two years of residency do not have to be continuous.