Replying to my own question (please correct me if I'm wrong):
- We live here since 2017, so we don't qualify for the home sale deduction, but, I heard there can be some exceptions on the 24 months ownership if you were forced to move due to a work-related move.
According to the IRS website HERE my case would qualify as a partial exclusion of gain since I had to move into the US because of my company in Spain.
On top of that, and because of the current worldwide economic recession, considering the current Dollar to Euro value, I could incur a loss of capital instead of a gain. If this would ever happen, do I have to report that loss on my yearly taxes?
