The most common exceptions are as follows:
- Buyer acquires the property for use as a home and the sales price is not more than $300,000;
- Seller provides a certification stating under penalty of perjury that they are not a foreign person;
- Seller obtains a withholding certificate from the IRS that excuses the withholding;
- Seller provides the buyer a notice of non-recognition stating that no recognition of gain or loss on the transfer is required because of a provisions in the IRC Code or U.S. tax treaty; or
- Amount the seller realizes from the disposition is zero.