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Home / News / Real Estate / Tax rules on sale of primary residence (8079)

Tax rules on sale of primary residence (8079)

The tax rules for selling a primary residence were updated by the Taxpayer Relief Act of 1997. Under the old rules, taxpayers over the age of 55 were given a once-in-a-lifetime exclusion of $125,000 if a gain was realized on the sale of a primary residence. For taxpayers under the age of 55, ...

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