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Deductions & credits
If you have only owned the home for one year, are you expecting a gain of over $250,000 if married filing jointly under the partial exclusion? Or $500,000 under the full exclusion?
If you are qualified for the full exclusion as described in Publication 523 on page 4 under the the heading of Service, Intelligence, and Peace Corps personnel then you can take the full exclusion.
‎April 23, 2024
3:46 PM