Home sale capital gains exclusion
$250,000 / $500,000
Do I Pay Taxes When I Sell My House?
Short answer: Yes: you can exclude up to $250,000 of gain ($500,000 joint) when you sell your main home if you owned and lived there 2 of the last 5 years.
Losses on a personal home sale aren't deductible.
Records to keep: Keep receipts, statements (1098, 1098-T, 1099, W-2G), and a note of what each cost was for. Compare itemizing to the 2026 standard deduction before you claim.
Home sale capital gains exclusion
$250,000 / $500,000
Individuals / Personal Taxes
Yes: you can exclude up to $250,000 of gain ($500,000 joint) when you sell your main home if you owned and lived there 2 of the last 5 years.
Business justification
Yes: you can exclude up to $250,000 of gain ($500,000 joint) when you sell your main home if you owned and lived there 2 of the last 5 years. Losses on a personal home sale aren't deductible.
Category
- Personal Tax Deductions