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jason-castelli
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Recently sold a home (09/16). Purchased a new home in 01/17. I'll be relocating because of work in 06/17. What is the best strategy for paying least capital gains tax?

 
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bwa
Alumni
Alumni

Recently sold a home (09/16). Purchased a new home in 01/17. I'll be relocating because of work in 06/17. What is the best strategy for paying least capital gains tax?

If you held the first home for two of the five years prior to 9/16, you would have up to $250,000 ($500,000) on a joint return excluded.  On the second home, it's unlikely, considering closing costs that you would have a gain on the sale of that home although you may have unusual circumstances.

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