Seniors: Claim Your $500,000 Tax-Free Home Sale Benefit — Most Never Do

Seniors: Claim Your $500,000 Tax-Free Home Sale Benefit — Most Never Do Most seniors selling their home expect a large tax bill. Most of them are wrong. Federal law allows married couples to exclude up to $500,000 of home sale profit from taxation entirely — no deferral, no special account, permanently excluded. Professor Kyle Pomerleau explains exactly who qualifies, how to calculate your adjusted basis correctly using decades of home improvements, and the special rules for widowed homeowners and health-related moves that most tax preparers never apply. This applies to every homeowner over 60 regardless of how much your home has appreciated. Watch this before you list your property. One calculation could save you tens of thousands. TIMESTAMPS 00:00 — The tax bill most seniors fear that never had to exist 02:15 — Who Professor Kyle Pomerleau is and why this matters 03:20 — The ownership and use test: two conditions that unlock the exclusion 07:30 — How to calculate your adjusted basis and reduce your taxable gain 12:00 — Capital improvements that most sellers forget to include 16:15 — Special rules for widowed homeowners and health-related moves 19:45 — Bonus: The 1031 exchange for investment property owners 22:15 — Bonus: The documentation to assemble before you list HASHTAGS #HomeSaleExclusion #SeniorRealEstate #CapitalGainsTax #Section121Exclusion #RetirementTaxTips #ProfessorKylePomerleau #SellYourHome2026 #SeniorFinance DISCLAIMER This video is for educational and informational purposes only. Professor Kyle Pomerleau is not your personal tax advisor, real estate attorney, or financial planner. Nothing in this video constitutes legal, financial, or tax advice specific to your individual situation. Home sale tax rules, adjusted basis calculations, and exclusion eligibility depend on individual circumstances that vary significantly. Always consult a licensed tax professional or enrolled agent before making decisions about selling your home or filing your tax return. Dollar amounts, thresholds, and IRS rules referenced are based on current federal law as of the date of publication and are subject to change by Congress or the IRS.