If you sell your first house do you have to pay a fee ?

Answer

If the house is your primary residence, and you have lived in it at least two out of the past five years, when you sell the house you can exclude from taxes up to $250,000 (single or $500,000 married) of any gain you may have received from the sale of the house.

Updated on April 11, 2018

Original Article:

IRS Red Flags That Put Your Tax Return at Risk for an Audit
By bankscottage
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