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State tax filing
Q: "is there any option I can avoid that tax as it was bought as a primary residence."
A: Sorry, no. The wording of the law is that the property must have been "owned and used as the taxpayer's principal residence", in order to qualify for the capital gains exclusion.
https://www.law.cornell.edu/uscode/text/26/121
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
‎July 3, 2022
11:16 AM
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