Do I qualify for this military families tax relief act? To clarify, I mean the capital gains exclusion. I am aware about the 2 years out of the 5 for non-mil members.
background: Bought a home and moved into it in Dec 2006 and moved out in August of 2010 because of military orders. The home was rented out from March 2011 until March 2021. We had the tenants move out in order to sell it and it was sold end of May 2021.
We purchased (but have not paid for it yet) live premier and our tax expert had no idea about this act so I agree with those who say don't pay for live as it is not a guarantee that they will know about this. Our tax expert did at least research this and provided info on how to apply the military clause but I am lost as to how to do this. On my screen, my options are: Rental Properties and Royalties (Sch E), Sale of Business Property, and Sale of Home (gain or loss). Which of these is the section that I am supposed to be editing? Any info would be greatly appreciated.
