Deductions & credits


@jcaceres77 wrote:
I lived in the house for 11 months and selling reason is due to crime.

 

Were you a victim of a crime from living in that area?  If so, you can probably not pay taxes on the gain.  There are several Private Letter Rulings from the IRS for similar circumstances. 

 

However, if you are moving just because of general crime in the area (you have NOT been a victim), then it seems much less likely you would qualify for an exclusion unless you can show that the general crime in the area has had a significant negative impact on your life.  It that is the case, would need to pay tax on the gain.