Introduction to Tax Deductions for Selling Your Home
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Make sure you're not missing out on the capital gains exclusion.
What you will learn
- Capital Gain Exclusions on Your Home
- Partial Capital Gain Exclusions on Your Home
- Calculating and Reporting Your Home's Capital Gain When You Sell It
What do you know?
Introduction to Tax Deductions for Selling Your Home
Uncle Sam encourages home ownership among Americans; one of the ways it does so is through the tax code. Homeowners get to take a number of tax deductions and credits for expenses they incur when keeping up their homes. Should you make a profit when you sell your home, there is also a tax break waiting for you there as well.