Enrolled Agent Exam [Part 1] 11, Sale of Principal Residence

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: • How to apply the '2-out-of-5-year' ownership and use tests to various exam scenarios. • The specific requirements married couples must meet to claim the full $500,000 exclusion. • The '2-2-1 for 500k' mnemonic to remember the key rules for joint filers. • How to calculate a partial exclusion when a taxpayer sells their home for unforeseen circumstances. • How periods of non-qualified use, such as renting out the home, can reduce the excludable gain. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep