Typically, people take it for granted that there will not be any tax when they sell their personal residence.  Technically, there is a tax, but the government also offers a limited exclusion under Section 121 of the Internal Revenue Code. For individuals who sell their primary residence, you can exclude the first $250,000 of gain.  … Continue reading A Trust can Qualify for a Section 121 Deduction (For Sale of a Personal Residence)