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Get your taxes done using TurboTax
Q. Do I need to pay capital gain on the profit, because it is a forced sell?
A. Yes. State law is irrelevant for federal income tax.
If the condo was your principal residence, you are probably eligible for the home sale exclusion, even if you don't meet the 2 year rule (you have "unforeseeable circumstances").
‎July 23, 2022
7:52 AM
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