Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted May 31, 2019 6:26:44 PM

Sale of primary home - lived and owned only 2 years - do I have to pay capital gains since I didn't owned the house for 5 years?

0 3 361
3 Replies
Alumni
May 31, 2019 6:26:46 PM

You don't have to have owned the home for 5 years. To get the exclusion, you have to have owned and lived in the home for 2 out of the last 5 years ending on the date of sale.

Alumni
May 31, 2019 6:26:50 PM

Also note that 2 years is not an estimate.  It is exactly 2 years or more from date of purchase.

Level 15
May 31, 2019 6:26:51 PM