I have an assignment where I have to give responses on the article below the requirements for the responses are designed to expand the topics, "includes some new details on that topic below. can you please include the references of the new sources in citation format ?

Article: "Tax Implications of Selling a Home" by Kay Bell. published in Journal of Accountancy The article in the Journal of Accountancy details the various tax implications associated with selling a personal residence. It begins by discussing the considerations for primary and secondary homeowners. For a primary residence, the capital gain from the sale is exempt up to $250000 if the homeowner has lived in the residence for two or more of the five years prior to the sale. This limit is doubled for married couples. Additionally. a homeowner cannot deduct any losses incurred from the sale of a primary residence. If a secondary residence was rented out for more than 14 days in a year that the owners used it for personal purposes. the rental income is taxable. The article also provides details regarding other aspects of taxation related to the sale of a home. such as depreciation and fix-up costs. Any increase to the property's value due to improvements or upgrades made to it are subject to taxes. while those due to ordinary wear and tear. such as building a garage or updating plumbing. are not. While fix-up costs can be deducted from the sales price on a personal residence. they cannot be factored into the property's cost base. In addition. the article provides information about the taxation of real estate related to businesses. Those who manage rental property or are professional real estate agents are required to pay taxes on the profits earned from the sale. Overall. this article in the Journal of Accountancy provides detailed information and considerations related to the various tax implications associated with selling a home. both for residential and business-related property. It identifies key points for homeowners to be aware of when selling a home to ensure they accurately comply with their tax obligations. Article: "Tax Implications of Selling a Home" by Kay Bell. published in Journal of Accountancy https://www.journalofaccountancy.com/issues/ 2009ov/20091783html