Sunday, October 11, 2009

How do i get tax credit for the sale of my house?

You don't get a tax credit for selling your house, but if you lived in it as your primary residence for at least two of the five years immediately preceeding the sale, owned the house for at least two of those same five years, you can exclude profit up to $250,000 ($500,000 if filing a joint return) from being taxed as long as you haven't excluded the profit on another home in the two years prior to the sale of this one.

How do i get tax credit for the sale of my house?
You don't





No such credit exists.


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