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Good morning. The age 55 exemption is no longer available under the tax code. But, there is in place a broad exclusion from capital gain
from the sale of your principal residence. Under Section 121 of the Internal Revenue Code
, you can exclude up to $250,000 ($500,000 if married) of capital gains from your home. To qualify, you must have owned and occupied their principal residence an “aggregate” two of the five years before the home sale.
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