Hal_Al
Level 15

Deductions & credits

@Matthewkoch5950 

Q. Am I able to exclude the gain ($71K) on the sale of mu home, since it was over 50 miles? 

A. Yes. 

 

Since you owned and  lived in the home 22 months, the maximum amount you can exclude is $458K (22/24 x $500 = 458).  Since that is more than your actual gain, you can exclude the whole $71K. 

 

The rule is that your new work place must be 50 miles further from you old home than your old work place. So even if your old work place was in the opposite direction, you meet the 50 mile rule (71-7=64) 

 

It's not clear what "My work locations are on the work profile" means.