Capital Gain

2 replies
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Can I qualify for the Capital Gains exemption on the sale of a house if I sell after living in the house less than 2 of the last 5 years?

For example, if I lived in it 2015-16 and sell in 2020.

DoninGA

Level 15

See IRS Publication 523 Selling Your Home - https://www.irs.gov/pub/irs-pdf/p523.pdf

Use the worksheets provided in the Publication and in particular the section on Business or Rental Use of Home

Anonymous_

Level 15

@4493_2 wrote:
Can I qualify for the Capital Gains exemption on the sale of a house if I sell after living in the house less than 2 of the last 5 years?

You will not be eligible unless one of the exceptions is applicable in your case.

See https://www.irs.gov/publications/p523#en_US_2018_publink10008999

You may be eligible for a partial exclusion if you meet any of those requirements.

See https://www.irs.gov/publications/p523#en_US_2018_publink100073096

Capital Gain

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