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.