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Deductions & credits
Q. Will I still owe tax on my capital gains?
A. No. Selling for a job change (minimum 50 mile move) qualifies as an exception to the 2 year rule.
The "partial exclusion" is actually a "reduced maximum exclusion". Since you're not expecting a major gain, you should be able to exclude the entire gain up $208,000 (20/24 x 250,000 = 208,000).
‎June 3, 2020
5:05 AM
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