Good day,
I am considering selling my home after 1y 6mos of residence for a change in employment. Treas. Reg. §§ 1.121- 3(c) states that the new location of employment must be 50+ miles from the place of residence. In my situation, I would be leaving my full-time job to continue my education (post-grad) full-time at a school across the country. This was certainly an unforeseen circumstance for me, but don’t know how the IRS views it. Does a change of employment to pursue education full-time qualify as a change of employment or “unforeseen circumstance” as stated in Section 121 to reduce the maximum exclusion? Any insight is greatly appreciated.
Thanks!
