if I bought a house in May of 2020 and had went to stay with my mom in October 2022 through the holidays but ended up having health issues and have stayed there till Jan 2026 and then sell the house, how does the capital gains tax affect me? My house has still been my primary residence on all documents but confused about if I would still meet the 5 year criteria ?
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Also should clarify that I tonight it was just going to be a temporary stay and have the texts of texting people I was coming back in the summer of 2023 and it wasn’t until beginning of jan 2024 that I realized I wouldn’t be going back
don't know your exact situation so here's some info
Illness can be considered a temporary absence under specific conditions. These typically include:
during a temporary absence, you are considered as occupying the residence. the rules require occupancy for 2 out of 5 years before sale. since local laws vary and this may affect your qualifications, confer with a tax pro w
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