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CCH Federal Taxation Basic Principles Chapter 11 Property Transactions: Nonrecognition of Gains and ... - page 11 / 66

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CCH Federal Taxation Basic Principles

11 of  66

The owner-spouse has not claimed the exclusion within two years preceding the sale.

(Note that a non-owner-spouse’s ineligibility does not bar the owner-spouse from claiming a $250,000 exclusion on a joint return.)

Neither spouse claimed the exclusion within two years preceding the sale.

Maximum Two-Year Frequency:

Maximum $250,000 Exclusion

Maximum $500,000 Exclusion

Three Requirements:

Sale of Home by Married Taxpayers— General Rules

Chapter 11, Exhibit 2d

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