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Deductions & credits
@Brandon G J wrote:
Awesome,
Thanks for the answer!
I've lived in my home for 11 months and am single so I would avoid CG on any gains below $114k~ and there is no requirement for me to spend that $114k on a house at my new location if I understand correctly.
Appreciate the info Opus
Correct, assuming you meet the qualifications for the partial exclusion as described in publication 523. You said you were moving for a new job, so you would appear to qualify, but you will need to review the list of qualifications and make sure you fit all of them. I don't know you so I can't guarantee you qualify for the partial exclusion.
‎November 3, 2021
10:20 AM