@Mike9241,
Can you advise?
I sold my primary house in Mar2021 and purchased new one due to downsizing. Profit is under $500K and I don't get any 1099-S.
Then my parents decided to move into active living apartment, so I sold their house in July2021. The house is under my name because I paid everything for it in the past 11 years. Profit is not over $100K. I got from 1099-S for this second house.
I file Married joint return with my husband. Our AGI is $195K. Is there a way to avoid capital gain tax on the selling of my second house if I have proof of my dad live there and it is not investment property?
