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Tax help for military filers
right. So for military, it's possible to actually own the property for a maximum of15 years, having lived in it say (for example) the first 2 years of ownership only, and still qualify for the exclusion.
2010-2012 - Primary residence 730 days total
2013-2023 - rented it out and were PCS'd away for these 10 years.
2023 - returned on Jan 1 and day count resumed on Jan 1, 2023. Assuming they did not move back into that property, so long as the sale is closed on/before Dec 31 of 2025, they would qualify for the exclusion.
May 11, 2022
7:34 PM