Question

How much capital gains can a single person earn off of their main property?

Forum|Forum|5 years ago
March 18, 2021
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TurboTax Deluxe Online

Employee

You can earn all the capital gains you want. When you say "main property" do you mean your main home? Did you mean to ask how much of the gain from selling your main home you can exclude from your taxable income? For a single person the maximum exclusion is $250,000, provided that you owned and lived in the home for at least 2 years out of the 5 years prior to the sale, you have not claimed the exclusion for the sale of another home within the 2 years prior to this sale, and you meet certain other conditions.