I purchased a condo on 5/2/2019 and lived in it for consecutive months until it sold on 9/6/2022. TT Home and Business says required 24 mos. of ownership starts 9/6/2017

It is subtracting 24 months from the purchase date, not the sell date.

119

Expert Alumni

Apr 9, 2023 1:22:04 PM

I just posted a similar sale and got the same result. However, you misunderstood the statement.

TurboTax is telling you that you have to have lived in the home for two years out of the last five.

The statement is: "Based on the sale date, we have determined that September 6, 2017 is the cut-off date for the 24-month tax advantage."

This means that you would have had to live in the condo as primary residence for 2 years within the time period from 9/6/2017 to 9/6/2022. You did this and you can take advantage of the Home Sale Tax Exclusion.

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I purchased a condo on 5/2/2019 and lived in it for consecutive months until it sold on 9/6/2022. TT Home and Business says required 24 mos. of ownership starts 9/6/2017