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Old 07-02-2018, 08:50 AM
 
625 posts, read 797,210 times
Reputation: 406

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I know that the law is that you must have resided in your primary residence for 2 of the last 5 years in order to be eligible to exclude up to $250,000 pf capital gains.

What if you have only owned the house for 4 years and lived there for all 4? Does the code mean that you have to have owned the house for 5 years while living there at least two?

I'm asking for someone that is selling their home with a small gain who have owned and lived in the home for 4 years.

I believe they can, but I want to confirm.
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Old 07-02-2018, 10:55 AM
 
1,620 posts, read 3,774,139 times
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yes then can, but after all the fees and such, if they really had a small gain, it would/could probably be wiped out/offset by realtor fees, home improvements, title transfer tax, ...
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