Part II. Seller Assurances
Internal Revenue Bulletin 1998-7 · 2026-10-03 edition · updated 2026-10-04 · United States
Check “yes” or “no” for assurances (1) through (4).
Yes No
� � (1) I owned and used the residence as my principal residence for periods…¶
the 5-year period ending on the date of the sale or exchange of the residence.
� � (2) I have not sold or exchanged another principal residence during the 2-year…¶
the sale or exchange of the residence (not taking into account any sale or exchange before May 7, 1997).
� � (3) No portion of the residence has been used for business or rental purposes by me…¶
� � (4) At least one of the following three statements applies:¶
The sale or exchange is of the entire residence for $250,000 or less.
OR I am married, the sale or exchange is of the entire residence for $500,000 or less, and the gain on the sale or exchange of the entire residence is $250,000 or less.
OR I am married, the sale or exchange is of the entire residence for $500,000 or less, and (a) I intend to file a joint return for the year of the sale or exchange, (b) my spouse also used the residence as his or her principal residence for periods aggregating 2 years or more during the 5-year period ending on the date of the sale or exchange of the residence, and (c) my spouse also has not sold or exchanged another principal residence during the 2-year period ending on the date of the sale or exchange of the residence (not taking into account any sale or exchange before May 7, 1997).
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