and ex marks the spot where those rocks and anvils hit me.
As was pointed out, the Principal Residence and the associated personal-use land can potentially qualify for the $250,000/$500,000 Principal Residence exclusion.
Things that are not part of the Principal Residence, such as business/farm buildings and business/farmland would not be eligible.
There IS a $ 250/500,000 exclusion for the sale of a qualified principal residence.
Is that what you are talking about? If so, how has the farm house been treated in prior years?
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