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Deductions & credits
@djfunk wrote:
What if you have owned the home for 10 years, lived in it for the first 7, relocated due to job and rented it out for 3 years and 2 months before selling, can you still get a pro rated exclusion?
You can suspend the 3 year rule for up to 10 years if the reason you moved out was due to military or foreign service orders. For any other reason, keeping it as a rental for more than 3 years kills the exclusion.
‎August 7, 2020
7:18 AM