Following these articles:
https://turbotax.intuit.com/tax-tips/jobs-and-career/changing-jobs/L5ElUIrh6
https://www.irs.gov/publications/p523#en_US_2021_publink100073096
My situation is that I got a new job with the same company through internal transfer but will have to move to different state permanently. I need to sell my primary residence before I move as I don't think I would be able to maintain it. I lived in home for ~18 months with my family and may make some gains from the sale. I believe I need to pay capital gains but want to know if I would qualify to get reduced (partial) exclusion? IRS says that you can but want to be sure that it won't be considered as an investment property since I am selling it within 2 years. If I do qualify then what record keeping is needed for next year during tax filing to explain the scenario to IRS?
Your comment is appreciated!
