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    Non-taxable gain on sale of a personal residence

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    Why does the IRS permit a tax payer to have $250,000 of non-taxable gain from the sale of a personal residence? Explain.

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    https://brainmass.com/business/accounting/non-taxable-gain-sale-personal-residence-187618

    Solution Preview

    The sale of a personal residence enjoys special tax treatment in order to minimize the impact of long-term inflation. For most people, a residence is the largest asset they own. While some appreciation is expected, residences are not primarily used as ...

    Solution Summary

    The solution determines why the IRS permits a tax payer to have $250,000 of non-taxable gain from the sale of a personal residence.

    $2.19

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