June 9, 2020

Here’s how renting out your home while you take a two-month vacation interacts with your ability to use the $500,000 home-sale exclusion ($250,000 if single).

Remember, you have to use the home as a home for two of the five years before sale to qualify for the home-sale exclusion.

Exclusion Rule

The tax code allows you to exclude from gross income up to $500,000 of gain (joint return, $250,000 if single) from the...

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