buy house 1 in 08/10 ,built house 2 and moved in 12/13. sold house 1 in12/16 gain 100K . past 5 years ( 08/10.-12/16) had lived in house 1 for 2 years , so I claim the exception . I sold house 2 in 07/17 gain 150K ,I have lived in house 2 for more than 2 years in the past 5 years . Can I claim the exception of $500K gain again ?
You'll need to sign in or create an account to connect with an expert.
If you meet all the requirements for the exclusion, you can take the $250,000/$500,000 exclusion any number of times. But you may not use it more than once every two years.
https://www.nolo.com/legal-encyclopedia/the-250000500000-home-sale-tax-exclusion.html
If you meet all the requirements for the exclusion, you can take the $250,000/$500,000 exclusion any number of times. But you may not use it more than once every two years.
https://www.nolo.com/legal-encyclopedia/the-250000500000-home-sale-tax-exclusion.html
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
mdmatulaitis
New Member
MissingMyForm
New Member
MissingMyForm
New Member
juliwilsonblack
New Member
Jmelendrez22-jm
New Member