: Unlike other investments, you cannot deduct a loss from the sale of your personal residence on your taxes.
: 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. : Unlike other investments, you cannot deduct a
The centerpiece of Topic 701 is the , which allows homeowners to sell their primary residence and exclude a massive portion of their profit from federal income tax: Single Filers : Can exclude up to $250,000 of capital gains. : Unlike other investments