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Publication 523

Your Home


Key Points(p1)

This publication explains the tax rules that apply when you sell (or otherwise give up ownership of) a home. It also shows you how to do the calculations you'll need to do.
If you sell your home at a significant profit (gain), some or all of that gain could be taxable. However, in most cases, if the home you sold counts as your main home, the first $250,000 of gain isn’t taxable—$500,000 if you are married and filing jointly.
If you sell your home at a loss, the money you receive isn’t taxable. However, you can’t deduct the loss from other income.
This publication will show you how to determine if you have a gain or loss, how much of that gain is taxable (if any), and how to report your transaction correctly.

Staying Current(p1)

To be sure you have the most up-to-date information related to Pub. 523, such as legislation enacted after it was published, go to

Related IRS Materials(p2)

You may find the following publications, forms, and instructions helpful when you are working through this publication.


Useful items

You may want to see:

 504  Divorced or Separated Individuals
 505  Tax Withholding and Estimated Tax
 527  Residential Rental Property
 530  Tax Information for Homeowners
 537  Installment Sales
 544  Sales and Other Dispositions of Assets
 547  Casualties, Disasters, and Thefts
 551  Basis of Assets
 587  Business Use of Your Home
 936  Home Mortgage Interest Deduction
 4681 Canceled Debts, Foreclosures, Repossessions, and Abandonments
Form (and Instructions)
 Schedule A (Form 1040) : Itemized Deductions
 Schedule B (Form 1040A or 1040) : Interest and Ordinary Dividends
 Schedule D (Form 1040) : Capital Gains and Losses
 982: Reduction of Tax Attributes Due to Discharge of Indebtedness
 1040 : U.S. Individual Income Tax Return
 1099-S: Proceeds From Real Estate Transactions
 4797: Sales of Business Property
 5405: Repayment of the First-Time Homebuyer Credit
 6252: Installment Sale Income
 8822 : Change of Address
 8828 : Recapture of Federal Mortgage Subsidy
 8949: Sales and Other Dispositions of Capital Assets
 W-2: Wage and Tax Statement
 W-7: Application for IRS Individual Taxpayer Identification Number

Additional Resources(p2)


Comments and suggestions.(p2)

We welcome your comments about this publication and your suggestions for future editions.
You can send us comments from Click on "More Information" and then on "Give us feedback."
Or you can write to:

Internal Revenue Service
Tax Forms and Publications
1111 Constitution Ave. NW, IR-6526
Washington, DC 20224

We respond to many letters by telephone. Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence.
Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products.
Ordering forms and publications.(p2)
Visit to download forms and publications. Otherwise, you can go to to order current and prior-year forms and instructions. Your order should arrive within 10 business days.
Tax questions.(p2)
If you have a tax question not answered by this publication, check and How To Get Tax Help at the end of this publication.