701 Access

: Can exclude up to $500,000 of capital gains.

This is a complete exclusion, meaning you don't even have to reinvest the money into a new house to keep the profit tax-free. Core Requirements for the Benefit : Can exclude up to $500,000 of capital gains

AI responses may include mistakes. For financial advice, consult a professional. Learn more Topic no. 701, Sale of your home | Internal Revenue Service : Can exclude up to $500