When we purchased our home, we it was hard to gauge what our future time commitment would be in office nor when that would ever return. We purchased a home about 30 miles from NYC in late 2020 and when things started to "return to normal" at the start of 2022 and offices were allowing and encouraging employees back to work it no longer was feasible to have a 1.5 hour+ commute each way plus factoring in client events, etc. So we sold our home at a slight gain (after adjusting cost basis) after about 18 months of ownership. Would this be considered in the unforeseen circumstances for partial exemption of the gain as it seems to apply to many of the following - the only one that doesn't really apply is the financial consideration.
• The situation causing the sale arose during the time
you owned and used your property as your residence.
• You sold your home not long after the situation arose.
• You couldn’t have reasonably anticipated the situation
when you bought the home.
• You began to experience significant financial difficulty
maintaining the home.
• The home became significantly less suitable as a
main home for you and your family for a specific reason.
Any thoughts on how the IRS would consider this?
