We sold our second home this year that we purchased in 2016. We never rented it out or claimed anything from it on our taxes. We did live it in 2 out of the past 5 years so does it qualify as sale of primary residence?
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@Nlubeck wrote:
We did live it in 2 out of the past 5 years so does it qualify as sale of primary residence?
You must have used the home as your main home, not as a second home.
@Nlubeck wrote:
We did live it in 2 out of the past 5 years so does it qualify as sale of primary residence?
You must have used the home as your main home, not as a second home.
Yes, we actually did for 2.5 years. I accepted a job in 2019 at a company closer to that home and we lived up there during that time which was during the past 5 years. If I am understanding the IRS stuff, I think that would qualify it as my primary residence during that time?
Yes, you would qualify if you owned and used the home as your main home for the last two out of five years leading up to the sale.
thank you!
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