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Deductions & credits
@kenken_kr Since you are going to have a job related move then you will get a partial exclusion.
For simplicity if you sell the residence one month shy of the two year requirement then you will eligible for 23/24 of the exclusion.
If you are single the exclusion is $250,000 or married and your spouse also lived in the home the same amount of time as you, the exclusion is $500,000 . So if your gain on the home is only $85K you are well within the exclusion amount, either Single or Married.
‎August 17, 2022
3:39 PM