Finance
Oregon has no state income tax on capital gains, but at the federal level, long-term capital gains on a primary residence may be excluded up to:
A$100,000 for single filers and $200,000 for married filing jointly
B$250,000 for single filers and $500,000 for married filing jointly✓ Correct
C$500,000 for all taxpayers
D$1,000,000 for primary residences held 10 years or more
Explanation
Federal tax law (IRC Section 121) allows homeowners to exclude up to $250,000 (single) or $500,000 (married filing jointly) of capital gains on the sale of their primary residence, provided they have owned and lived in the home for at least 2 of the past 5 years.
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