I bought a duplex property (one loan) on 10/2018 for ~$250k. The intended use was to buy it as main residence. However, since there were tenants in both units, both units were rented until 03/2019 that I occupied one unit as primary resident. One unit was always rented all the times.
I put some $20-30k for renewal in the unit that I lived in.
For job related reasons I moved to another state on 09/2019, therefore it was a primary resident for ~6 months.
Sold the property on 10/2020 a little over 2 years for ~450k
1- What type of reporting should I do?
2- Do I get a portion of home sale exclusion because my move was due to change of job?
I'm asking because it seems like I may be able to get some exclusion based on the following information:
"To qualify for the $250,000/$500,000 home sale exclusion, you must own and occupy the home as your principal residence for at least two years before you sell it.
What if you have to sell your home even though you don't comply with all the requirements for the exclusion? This would occur, for example, if you sell before you have lived in the home for two years, or if you have already used the exclusion for another home less than two years prior to this sale. If this happens, you may still qualify for a partial exclusion if you have a good excuse for selling the property. Good excuses include:
- a change in your place of employment
..." from (https://www.nolo.com/legal-encyclopedia/qualifying-the-home-sale-exclusion-without-living-in-the-hom...)
