Home Exclusion

[Unregistered]

If you sold your main home in 2005, you may be able to exclude from income any gain up to a limit of $250,000 ($500,000 on a joint return in most cases). See Excluding the Gain, later. If you can exclude all of the gain, you do not need to report the sale on your tax return.


I hearing rumors this might change?

[Brian EA]

If you sold your main home in 2005, you may be able to exclude from income any gain up to a limit of $250,000 ($500,000 on a joint return in most cases). See Excluding the Gain, later. If you can exclude all of the gain, you do not need to report the sale on your tax return.


I hearing rumors this might change?

It's true you do not need to report the sale on your tax return. I did not hear that it would change.

[RLymanC]

Exclusion

If for some reason a 1099-S was issued you would have to report the sale on Schedule D and take the exclusion on line 2.

[rosieea]

I hearing rumors this might change?

No sane politician would dare suggest that.

[Bees Knees]

No sane politician would dare suggest that.

I didn't know any politicians were sane.

Learn something new every day....

[Gary]

Sane

I'll bet somewhere in this world there is a politician named "Sane".