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Question about selling home
I have a question about my primary residence. I have owned a house in VA for over 30 years and lived half- time between VA and FL since 2016. By half-time, I mean about 180 days each. When I read the IRS pub 523, it states you have to have 2 years out of the last 5 living in the house for the exemption. However, it also states the time does not have to be a single block of time. My question is, does living in the VA home 6 months out of the year allow me to avoid paying the capital gains tax on the sale.
I do maintain an FL driver's license and vote in FL and do not change each time I relocate.
Thanks
Gary
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‎July 12, 2020
4:07 PM