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Deductions & credits
You may not need to suspend the 5 year period. There is an exception to the 2 year rule for those who move for a job change, including military orders. But the maximum exclusion is reduced.
Example: you owned and lived in the house for 15 months and sold it for a $100,000 profit. Your maximum exclusion is reduced to 15/24 x $500,000 = $312,500. Since your $100,000 profit is less than $312,500, you get to exclude the entire $100,000 gain.
‎July 26, 2021
5:23 PM