Can you tell us a little bit more about this? Since you didn't live in it, was it rented? Or was it your second/vacation home?
Only homes that are your primary residence for at least 24 months out of 5 years prior to sale are eligible for the capital gains exclusion of up to $500,000 for taxpayers filing a joint return.
However, we need to know a bit more about the use of the home to give you the best advice.
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