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Level 3
November 17, 2022
Solved

Sale of home rule

  • November 17, 2022
  • 1 reply
  • 16 views

Do I qualify for the 250/500 rule of tax exception of selling a home if I lived and owned and lived on that property for only 4 1/2 years before selling it?

    Best answer by Bsch4477

    Yes. You have to have lived there at least 2 of the past 5 years. You don’t have to have owned it for 5 years. 

    1 reply

    Bsch4477Level 15Answer
    Level 15
    November 17, 2022

    Yes. You have to have lived there at least 2 of the past 5 years. You don’t have to have owned it for 5 years.