K
kheffron
Guest
What is the name of your state? Illinois and Indiana
I would like to know if we (wife and I) qualify for the capital gains exclusion on our home sale.
Here`s the story...
(1) Bought the house in April 1998 near Chicago
(2) Got transferred to Brasil in June 1999 - but kept house
(3) Rented house on March 2000 until April 2003
(4) we want to sell the house as we are being relocated back to the USA to Indiana.
Do we meet the 2 out of the last 5 years intent? Housing is cheaper in Indiana and we would like to buy for less than we sell....which is different than the way it used to work to avoid gains taxes.
Tx
I would like to know if we (wife and I) qualify for the capital gains exclusion on our home sale.
Here`s the story...
(1) Bought the house in April 1998 near Chicago
(2) Got transferred to Brasil in June 1999 - but kept house
(3) Rented house on March 2000 until April 2003
(4) we want to sell the house as we are being relocated back to the USA to Indiana.
Do we meet the 2 out of the last 5 years intent? Housing is cheaper in Indiana and we would like to buy for less than we sell....which is different than the way it used to work to avoid gains taxes.
Tx