Beware of The HUGE Medicare Penalty for Selling Your Home After 63

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Do I have to report the home sale on my tax return?
You generally only need to record your home sale on your tax return if you turned a profit of $250,000 or more as a single filer or $500,000 or more as a joint filer. In that case, you will likely be eligible to exclude the first $250,000 or $500,000 of profit and record the remaining amount on your tax return.