topic Sale of a 2nd home, purchased for parent to live close-by. Did not take rent; parent died. Do I qualify for exclusion of capital gains? It was not my main residence. in Investors & landlords

Sale of a 2nd home, purchased for parent to live close-by. Did not take rent; parent died. Do I qualify for exclusion of capital gains? It was not my main residence.

sw16 — Tue, 29 Aug 2023 01:06:28 GMT

I purchased the home for my mom to live in rent free. I owned for approximately 3 years before she got sick and died. Can i qualify for exclusion of capital gains?

Re: Sale of a 2nd home, purchased for parent to live close-by. Did not take rent; parent died. Do I qualify for exclusion of capital gains? It was not my main residence.

VolvoGirl — Tue, 29 Aug 2023 01:07:57 GMT

Sorry no. Has to be your primary home.