- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Partial home gain exclusion on rental property
This is the situation,
Purchased apt and lived as primary residence 11/5/2017.
I started searching for a larger home due to space constraints and my family's need to work from home due to the unforeseen COVID pandemic.
I bought a new home and moved in on 2/28/2022. I rented out apt 3/1/2022.
Its my understanding that if I sold this apt and closed on or before 2/28/2025, I would qualify for the full home gain exclusion. My question is, if I sold after this date, would I qualify for the partial home gain exclusion? The 2 year live in qualification would be waived/prorated due to covid unforeseen circumstances.
Thank you
‎November 6, 2024
6:22 PM