701 -

: You must have owned the home for at least 24 months (two years).

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 : You must have owned the home for

: If you used part of your home for business or rented it out, special rules apply that might limit your exclusion. : You must have owned the home for

: If your spouse passed away, you may still qualify for the full $500,000 exclusion if the sale occurs within two years of their death and other criteria are met. : You must have owned the home for

: You generally cannot have used the exclusion for another home sale in the two years prior to the current sale. Important "Gotchas" and Nuances