Hello,
My question is related to the partial exclusion of the capital gains for a home sale. I lost my job this year and accepted an offer in another state (at least 160 miles away from my current residence). I will be selling my home to relocate to my new job and have questions about how the IRS' Partial Exclusion of Gain would affect my home sale?
I purchased my home for $219 K in 2012. It's been my primary residence since then. My home is expected to sell for (at least) $500 k per the realtor. As the capital gains difference would be greater than $250 K, what would the IRS' Partial Exclusion of Gain be for capital gains when I sell my house because I have to move to another state?
