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Hi, I meet both requirements to exclude the tax on the sale my principal home but when I get to the page, turbo tax says I do not. Anyone know why?
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please provide more details
how long did you live in the home?
what was the sales price?
what was the purchase price?
please state the 2 requirements, just so we are all on the same page
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Hi, I bought the home in 5/2005, sold in 8/2020, live there full time until 2/2020.
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$1,253,000 was price plus improvements and $1,500,000 was selling price
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of the last 24 months prior to August 2020, how many months did you live there?
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sorry, I asked the question wrong, but I will assume you lived there at least 24 of the last 60 months of ownership - otherwise that is the issue.
suggest going back and check all your inputs, especially the dates......if the dates reflect that you did not live there ANY 24 months of the period of Sept 2015 - August 2020, it's the problem