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  • Fix The Tax Code Friday: Capital Gains Exclusion

Fix The Tax Code Friday: Capital Gains Exclusion

Kelly Phillips ErbMarch 16, 2007

I’ve received a number of queries about the capital gains exclusion for the sale of a personal residence (more on that next week).  But it made me start thinking about the policy reason for exempting gain and why a limit would be imposed.  So, I’m curious to hear what you think.  Today’s Fix the Tax Code Friday question is:

Should there be a limit on the amount of gain that you can exempt from the sale of your personal residence?

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Kelly Phillips Erb
Kelly Phillips Erb, known as Taxgirl, is a tax attorney, writer, and speaker who explains tax news, IRS updates, scams, financial crime, and money in plain English.
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Capital gain, fix the tax code

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