1. What is the principal residence profit exclusion?
2. How much profit is excluded?
3. What if the homeowner doesn’t occupy the residence when they sell it?
4. So if I qualify, do I automatically get the $250,000 exclusion?
5. Are there any other tax exclusions available if the individual doesn’t qualify for the principal residence profit exclusion?
6. What are the guidelines on accumulated expense deductions over the term of ownership?
7. Where can I read more?