primary residence

In today's shaky real estate market, more and more homeowners are becoming landlords, often as an unexpected necessity. Whether you're renting out your old house, an investment property or even a single room, being the landlord means tax breaks -- and you should take every one you can.

If you've been living in your house for the last two years and it's only your personal residence (no business use claimed on any tax returns) you can profit up to $250,000 on the sale and still not owe any taxes. If you're married filing jointly, you can profit up to $500,000 without paying any...