@vaglossa wrote:
No conditions as set out in your first response, just a simple sale.
Is there a financial benefit for me by holding the property for the full 2 years rather than selling before 2 years of ownership?
ROUGHLY $40,000 in Federal taxes (plus State tax) if you sell it before 2 years.
If it was your main home the entire time, $0 in Federal tax if you sell it after 2 years.
If it was NOT your main home, ROUGHLY $40,000 in Federal taxes (plus State tax) if you sell it after 2 years.
Again, the $40,000 is just a rough, ballpark number. There are MANY factors involved, depending on all of your other circumstances.
