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Rental property capital gains exemption for military

 
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4 Replies
view2
New Member

Rental property capital gains exemption for military

You have to sell as a personal home sale and mark "Military" for 'Other reason for sale".

The new law allows persons on qualified extended duty in the U.S. Armed Services or the Foreign Service to suspend this five-year test period for up to 10 years of such duty time.

http://www.irs.gov/uac/IRS-Helps-Military-Personnel-Get-New-Law’s-Tax-Breaks

Caveman46
New Member

Rental property capital gains exemption for military

I just retired from the military and have been renting my home.  How long after separation can I still make this claim.
p18
New Member

Rental property capital gains exemption for military

Not enough detail, where to key in...providing steps would be helpful
Caveman46
New Member

Rental property capital gains exemption for military

More detail is..... I retired from military in 2018.  I purchased a home in 2010 and moved out in 2013 due to PCS.  I have been renting it since 2013.  Now that I am no longer on active duty what is the last year I can sell my home as primary residence without having to pay capital gains using the rule above?
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