From Forbes, Jan. 9 2018:
A dodged bullet: Despite some battle wounds, real estate professionals broadly agree: It could have been worse. Earlier versionsof the tax plan eliminated property tax deductions entirely and cut the mortgage-interest cap even further. But the biggest win for the industry may be that the final bill maintains the exclusion for capital gains from the sale of a primary residence. This means a taxpayer who sells a home may exclude up to $250,000 of gain from taxation ($500,000 if married filing jointly) if he or she has owned and used the home as a primary residence for two of the past five years. Earlier versions of the bill would have increased the ownership and use requirements to five of eight years, and kept higher-income taxpayers from claiming the exemption at all.
