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Capital Gains Partial Exclusion
My husband lost his job in November 2022. He collected North Carolina unemployment for about a month, and then found another position in Michigan - started December 2022.
We had sold a home previously in NC in July 2021 and excluded the gain. We purchased a new home on the same day.
This home was our main residence for 19 months - we sold it in February 2023.
Since we moved 761 miles - I am assuming we qualify for a partial gain on the exclusion.
My question is - where if anywhere does this get reported? Do I just need to keep documentation in case of an audit? I have his offer letter, unemployment papers, and the quote for the cost of the move.
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‎October 7, 2024
6:07 AM