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Deductions & credits
Q. Do I have to sell after11/3/21 (2 years) to be allowed to get capital gains exclusion again?
A. Yes. From Pub 523:
Generally, your home sale qualifies for the maximum exclusion, if all of the following conditions are true.
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You didn’t acquire the property through a like-kind exchange in the past 5 years.
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You aren’t subject to the expatriate tax.
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You owned the home for 2 of the last 5 years and lived in the home for 2 (1 if you become disabled) of the last 5 years leading up to the date of the sale (limited exceptions available).
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For the 2 years before the date of the current sale, you didn't sell another home on which you claimed the exclusion.
September 26, 2021
6:24 AM