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Main Home

What is 'Main Home'

A term used by the Internal Revenue Service (IRS) to define the home a taxpayer has lived in most of the time during a given taxation year, or the only home a taxpayer owns. The classification of a taxpayer's main home is important when considering gains resulting from the sale of a main home.

Explaining 'Main Home'

When you sell your home, you may be able to exclude the gains from your income for tax purposes if you pass the ownership and use tests. If over the previous five years you have owned the home for more than two years, and it was your main home for more than two years, then you can exclude up to $250,000 ($500,000 for joint filers) in a given tax year.

Losses resulting from the sale of your main home cannot be deducted.


Further Reading


The home economics of e-money: velocity, cash management, and discount rates of M-Pesa users
www.aeaweb.org [PDF]
… University of Toronto Press acknowledges the financial support for its publishing activities of … 6 Home Economics: The Making of 'Migrant Workers' in Canada calls into question classical … years of parliamentary debates on immigra- tion, international trade, and finance within the …

The new home economics at Colombia and ChicagoThe new home economics at Colombia and Chicago
www.tandfonline.com [PDF]
… University of Toronto Press acknowledges the financial support for its publishing activities of … 6 Home Economics: The Making of 'Migrant Workers' in Canada calls into question classical … years of parliamentary debates on immigra- tion, international trade, and finance within the …

The “new home economics:” Retrospects and prospectsThe “new home economics:” Retrospects and prospects
academic.oup.com [PDF]
… University of Toronto Press acknowledges the financial support for its publishing activities of … 6 Home Economics: The Making of 'Migrant Workers' in Canada calls into question classical … years of parliamentary debates on immigra- tion, international trade, and finance within the …

Independent individual decision-makers in household models and the new home economicsIndependent individual decision-makers in household models and the new home economics
link.springer.com [PDF]
… University of Toronto Press acknowledges the financial support for its publishing activities of … 6 Home Economics: The Making of 'Migrant Workers' in Canada calls into question classical … years of parliamentary debates on immigra- tion, international trade, and finance within the …

Stages of soybean developmentStages of soybean development
lib.dr.iastate.edu [PDF]
… University of Toronto Press acknowledges the financial support for its publishing activities of … 6 Home Economics: The Making of 'Migrant Workers' in Canada calls into question classical … years of parliamentary debates on immigra- tion, international trade, and finance within the …

Classification and the definition of a discipline: The Dewey decimal classification and home economicsClassification and the definition of a discipline: The Dewey decimal classification and home economics
www.jstor.org [PDF]
… University of Toronto Press acknowledges the financial support for its publishing activities of … 6 Home Economics: The Making of 'Migrant Workers' in Canada calls into question classical … years of parliamentary debates on immigra- tion, international trade, and finance within the …

Environmental education: a task for home economistsEnvironmental education: a task for home economists
onlinelibrary.wiley.com [PDF]
… University of Toronto Press acknowledges the financial support for its publishing activities of … 6 Home Economics: The Making of 'Migrant Workers' in Canada calls into question classical … years of parliamentary debates on immigra- tion, international trade, and finance within the …

Self-organized complexity in economics and financeSelf-organized complexity in economics and finance
www.pnas.org [PDF]
… University of Toronto Press acknowledges the financial support for its publishing activities of … 6 Home Economics: The Making of 'Migrant Workers' in Canada calls into question classical … years of parliamentary debates on immigra- tion, international trade, and finance within the …



Q&A About Main Home


How many seasons has there been for this show?

There have been two seasons thus far.

How do you pass ownership and use tests for your main home?

You must have owned it for more than two years, and it was your main home for more than two years.

What is a main home?

A term used by the Internal Revenue Service (IRS) to define the home a taxpayer has lived in most of the time during a given taxation year, or the only home a taxpayer owns.

What can you exclude from income when you sell your main home?

Up to 25% (5% if married filing jointly), of any gains resulting from the sale of your main home.

Who created the television series?

Michael Colton and John Aboud.

What network did ABC air Home Economics on?

ABC aired Home Economics on their channel.

What is the name of the television series?

Home Economics.

When was Home Economics released in the United States?

April 7, 221.

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