Calculate Section 121 exclusion on primary residence sale: $250,000 (single) or $500,000 (MFJ) of gain excluded. Must have owned and used as primary residence 2 of past 5 years. Partial exclusion rules for special circumstances.
Enter the values for the scenario you are assessing. Calculate Section 121 exclusion on primary residence sale: $250,000 (single) or $500,000 (MFJ) of gain excluded. Must have owned and used as primary residence 2 of past 5 years. Partial exclusion rules for special circumstances. Use the section 121 exclusion result to inform your calculation.