Home Sale Capital Gains (Section 121 Exclusion)

*Comments have been disabled as of 06/06/2025. The SEC mandates that Youtube Comments be automatically archived (like emails) which we don't have a solution for at this time. If you have further questions or wish to set up an engagement, please don't hesitate to reach out on the website. Thanks! In this video I'll explain how the Section 121 Tax exclusion applies to the sale of your primary residence. In addition, we will talk about how to use the exclusion despite turning your primary home into a rental. 00:00 - Intro 00:47 - Primary Residence Defined 01:54 - Capital Gains Defined 04:02 - Section 121 Exclusion 05:58 - Increasing Basis 07:24 - Decreasing Sale Price 07:56 - Increasing Sale Price 09:30 - 1031 Exchange 10:08 - WA State Capital Gains Tax 10:29 - Converting Primary to Rental 12:22 - Calls to Action Journal of Accountancy Article - https://www.journalofaccountancy.com/.... Kitces Article on Rentals - https://www.kitces.com/blog/limits-to... IRS Explainer on Selling Costs (Page 14) - https://www.irs.gov/pub/irs-pdf/p523.pdf