@Opus 17 @AnnetteB6
Just found out, that house was purchased in 1980 with everyone names (4 siblings + parents) In 2000, it was refinanced with (mom,dad, one son). Son has been living there since from 2000-2010, until found a temporary job in Texas.
Every year, son made multiple trips, to check up on dad and the house. Did a lot of improvement on house as well. He wasn't there for parent, but also he was the main person managing the property. In 2016, when dad passed away, months before and months after, son spent alot of time with at the family/house.
I'm more concern about the use test. Does this mean, the son will report all the gain (assume from your example, $195K) even thought its under the $250K limit since there seem to be issue with meeting the use test?
Thanks alot!!
