A reminder about the home-sale gain exclusion for those in nursing homes.

Taxpayers who have owned and used a home as their principal residence for at least two of the five years leading up to the sale can exclude up to $250,000 ($500,000 if married) of the gain when they sell.

However, the rules are more lenient for homeowners who can’t care for themselves and have moved to a nursing home.

The length-of-use requirement is lowered to one out of five years preceding the sale.

Please give us a call to discuss this or any of our other topics with you, so we can address your specific requirements.

DiSabatino CPA
Michael DiSabatino
651 Via Alondra Suite 715
Camarillo, CA 93012
Phone: 805-389-7300
ww.sharpcpa.com

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