Origin: Massachusetts conforms to the Internal Revenue Code (the "Code") § 121 exclusion from gross income for up to $250,000 of capital gain (or $500,000 if filing jointly) on the sale of a principal residence.
Origin: M.G.L. c. 62, §§ 1(c), 1(d), and § 2(a); Code § 121
Tax Type
Tax Expenditure
Item Number
Item Name
Description
Origin
FY2021
FY2022
FY2023
FY2024
FY2025
Personal Income Tax
Exclusions from Gross Income
1.021
Exemption of Capital Gains on Home Sales
Massachusetts conforms to the Internal Revenue Code (the "Code") § 121 exclusion from gross income for up to $250,000 of capital gain (or $500,000 if filing jointly) on the sale of a principal residence.
M.G.L. c. 62, §§ <a href="https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section1" target="_blank">1(c), 1(d)</a>, and § <a href="https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter62/Section2" target="_blank">2(a)</a>; <a href="https://www.law.cornell.edu/uscode/text/26/121" target="_blank">Code § 121</a>
359.3
414.1
427.0
428.9
435.5
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