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?
03361
3 Replies
jerry2000
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.
bwa
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.