Hi everyone,
We're selling our home which we own for less than 2 years & we claim it as 'primary home' during pandemic:
- I work from this home for the past 1.5 years, and my spouse stays here on and off
- We're now selling this home, and buying another one in different location
Based on the IRS publication, page 6 https://www.irs.gov/pub/irs-pdf/p523.pdf, I should meet the requirement under Partial Exclusion of Gain, by claiming the following:
- My spouse buys the new place as 'primary home'
- And i sell this house with the reason of my job requires me to return to the office (my office is not in the same location of new primary home)
Am I right in my understanding?
Thank you in advance,
