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Why, when logged into biggerpockets.com can't I comment on articles?
Scott Trench's new article Millions of Americans Should Keep Their Homes as Rentals, Not Sell. Here’s Why. (biggerpockets.com) is inaccurate:
"Many readers who are familiar with real estate investing and primary residences will be asking questions about the tax impact of selling a primary residence. Thanks to a special IRS tax loophole, homeowners can exclude $250,000 to $500,000 of capital gains from the sale of a primary residence, so long as they have lived in the property for two out of the prior five years."
Using Section 121 of the tax code is NOT a loophole!