A seller who wants to be excluded from paying capital gains tax on a principal residence will need to

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Business

Layton Bruce

12 December, 17:27

A seller who wants to be excluded from paying capital gains tax on a principal residence will need to

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Yoselin Blevins · Answer 1

The correct answer is this - live in the home two out of five years.

The seller must live in a principal residence for at least two out of five years and may not receive more than $250,000 if single or $500,000 if married. This way, he or she will be excluded from paying capital gains tax on a principal residence.