New Holding Rule for Investment Property

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Section 121 of the Internal Revenue Code (“Code”) allows a homeowner to exclude up to $250,000 ($500,000 for a married couple) in gain realized from the sale of a personal residence if the taxpayer has owned and lived in the home for a cumulative period of at least two years during the five year period ending on the date of sale of the property. Read New Holding Rule for Investment Property to learn more.

 

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