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Business & farm
No, you will not be able to receive the capital gain home sale tax exclusion of $500,000.
There are several criteria that need to be met to qualify for the home sale exclusion.
You must have owned and used the home as your primary residence for at least two of the five years leading up to the date of the sale. You fail to meet this criteria as the last time you used the house as a personal residence was 2019.
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May 22, 2024
9:45 AM