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previous page Previous Page: Publication 17 - Your Federal Income Tax - Reporting the Sale
next page Next Page: Publication 17 - Your Federal Income Tax - Recapturing (Paying Back) a Federal Mortgage Subsidy
 Use previous pagenext page to find additional occurrences of topic items.Index for this Publication
taxmap/pub17/p17-086.htm#en_us_publink100033455

Special Situations(p109)


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The situations that follow may affect your exclusion.
taxmap/pub17/p17-086.htm#en_us_publink100033456

Sale of home acquired in a like-kind exchange.(p109)


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Sale of home acquired in a like-kind exchange.

You cannot claim the exclusion if: Gain from a like-kind exchange is not taxable at the time of the exchange. This means that gain will not be taxed until you sell or otherwise dispose of the property you receive. To defer gain from a like-kind exchange, you must have exchanged business or investment property for business or investment property of a like kind. For more information about like-kind exchanges, see Publication 544, Sales and Other Dispositions of Assets.
taxmap/pub17/p17-086.htm#en_us_publink100033457

Home relinquished in a like-kind exchange.(p109)


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Home relinquished in a like-kind exchange.

If you use your main home partly for business or rental purposes and then exchange the home for another property, see Publication 523.
taxmap/pub17/p17-086.htm#en_us_publink100033458

Expatriates.(p109)


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Expatriation

You cannot claim the exclusion if the expatriation tax applies to you. The expatriation tax applies to certain U.S. citizens who have renounced their citizenship (and to certain long-term residents who have ended their residency). For more information about the expatriation tax, see chapter 4 of Publication 519, U.S. Tax Guide for Aliens.
taxmap/pub17/p17-086.htm#en_us_publink100052153

Note.(p109)
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The expatriation rules changed for expatriations after June 16, 2008.
taxmap/pub17/p17-086.htm#en_us_publink100033459

Home destroyed or condemned.(p109)


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Home destroyed or condemned

If your home was destroyed or condemned, any gain (for example, because of insurance proceeds you received) qualifies for the exclusion.
Any part of the gain that cannot be excluded (because it is more than the maximum exclusion) can be postponed under the rules explained in:
taxmap/pub17/p17-086.htm#en_us_publink100033460

Sale of remainder interest.(p109)


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Sale of remainder interest.

Subject to the other rules in this chapter, you can choose to exclude gain from the sale of a remainder interest in your home. If you make this choice, you cannot choose to exclude gain from your sale of any other interest in the home that you sell separately.
taxmap/pub17/p17-086.htm#en_us_publink100033461

Exception for sales to related persons.(p109)
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You cannot exclude gain from the sale of a remainder interest in your home to a related person. Related persons include your brothers, sisters, half-brothers, half-sisters, spouse, ancestors (parents, grandparents, etc.), and lineal descendants (children, grandchildren, etc.). Related persons also include certain corporations, partnerships, trusts, and exempt organizations.
previous pagePrevious Page: Publication 17 - Your Federal Income Tax - Reporting the Sale
next pageNext Page: Publication 17 - Your Federal Income Tax - Recapturing (Paying Back) a Federal Mortgage Subsidy
 Use previous pagenext page to find additional occurrences of topic items.Index for this Publication