- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
smart realtor. s(he) is correct. while normally the HSE can only be used once every two years, there is a partial exclusion available if the reason for the sale is a change in job locations. your situation should present no problems for Turbotax.
formula for exclusion
1) $500,000
2) number of days or months used as principal residence
3) number of days or months at least one of you owned it
4) smaller of 2 or 3
5) number of days or months between this home sale and last home sale
6) smaller of 4 or 5
7) divide line 6 by 730 if using days or 24 if using months (should be less than 1.000)
😎 exclusion line 1 times line 7
‎January 22, 2022
4:52 PM