Frequently Asked Questions

This is one of the most common tax questions we hear. In many cases, if you have owned and lived in your home for at least 2 of the last 5 years, you may be able to exclude up to $250,000 of gain from your taxable income. In simple terms, that means a large portion of the profit from the sale of your home may not be taxed. Since every situation is different, Flynn Accounting can help you understand what to expect before you sell.