MarilynG1
Expert Alumni

Retirement tax questions

No, if your parents lived in their condo for 2 of the last 5 years, any gain on the sale up to 500K is excluded from taxes, for a married couple. 

 

You don't even need to report it on their tax return, in that case.

 

Here's more info about the Home Sale Exclusion for Sale of Primary Home. 

 

@bigblue_212

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