Increase in the exclusion from capital gains tax on the sale of principle residence from $125,000 in capital gains to $500,000 for filing joint taxpayers ($250,000 exclusion of profit for single taxpayer). This exclusion can occur every 2 years. The repetitive ability is a great opportunity to buy and sell a principle residence and either move up or buy down. There is no age restriction on who is eligible for this exemption.
First-time and repeat h... read more