Capital Gains on Second Home?

[leslieh]

I am married and live in Arizona. My husband had a home prior to our marriage. When we married in 2006, I purchased a home without his name on it. Having two homes took it's toll, and I foreclosed on my home.

We have since moved in to his home, but he wants to sell it and buy something smaller and cheaper. I am worried about capital gains. In the last 5 years, we lived in his home for approx. 750 days. We were there Nov 2004 through December 2006 and again from October 2009 to current. Does the 730 day exclusion have to be consecutive days?What is the name of your state (only U.S. law)?

[HappyWanderer]

I don't see anywhere on the internet saying anything other then 2 of the last 5 years. Consecutive does not seem to be a part of it.

[FlyingRon]

I agree with Happy. While the IRS might get a little dicey about real short periods of alternation, large blocks like this aren't going to be a concern.