selling and capital gains.

[harrydog]

What is the name of your state? New York.
We bought our house in Jan. 06. in NY hoing my medical conditions would improve. however, they have worsened due to the climate. If the MD says it is medically neccesary for me to move back to Florida will I have to pay capital gains tax on my current residence since we have not resided here for at least two years?

[PghREA]

Originally Posted by harrydog

What is the name of your state? New York.
We bought our house in Jan. 06. in NY hoing my medical conditions would improve. however, they have worsened due to the climate. If the MD says it is medically neccesary for me to move back to Florida will I have to pay capital gains tax on my current residence since we have not resided here for at least two years?

Yes. However, there will probably not be much, if any, capital gains on the sale of your property to worry about.

[sunnyside]

Originally Posted by harrydog

What is the name of your state? New York.
We bought our house in Jan. 06. in NY hoing my medical conditions would improve. however, they have worsened due to the climate. If the MD says it is medically neccesary for me to move back to Florida will I have to pay capital gains tax on my current residence since we have not resided here for at least two years?

You don't have to pay capital gains tax if the move was for medical or health reasons. Other reason is when it's a job transfer. You can check this information out in the IRS website.