TomD8
Level 15

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.