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Personal Residence Located at , ,  Form

Personal Residence Located at , , Form

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an important part of the tax code allows people to in most cases not pay any capital gains tax on the sale of their primary residence a primary residence is a home that you lived in for two of the last five years and it's it's the address that's on your tax returns your primary residence there's people who have vacation homes rental homes you can only have one primary residence if you're married you get a five hundred thousand dollar exclusion what that means is if you sell the house and make a profit of less than five hundred thousand dollars you pay no taxes on the sale of that house a lot of people don't know that if you're single the exclusion is two hundred and fifty thousand dollars so most Americans do not pay capital gains tax on the sale of their primate residences and that's a you know an important thing that people need to know foreign

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