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Sale of Primary Home that was a Vacation home
Turbo Tax Premier doesn't seem to be calculating my primary home sale exemption. The home was purchased as a vacation home in November 2014, then became primary residence in May 2021, then was sold in August 2023. When asked the number of days the home was used for other purposes, what do I put? Or is there something else I am doing wrong? The gain is below the exemption threshold, but it is telling me a large part of my gain is taxable. Knowing we used it as primary residence for 2 of the last 5 years, we should have no taxable gain.
‎February 28, 2024
12:19 PM