Capital Gains Property Taxing

What is the name of your state? Illinois
Is there a ruling that allows the sale of a residential property after only 13 months of living in said property IF the sale is due to a change in employment? If so where can I find more info? Thanks

[abezon]

Yes. If the sale is due to a change in employment, you are eligible for a reduced exclusion. ($250,000 prorated over the number of days you lived in & owned the home.) Any tax program should be able to calculate this for you. You can search the IRS site for "reduced exclusion residence".

Okay - the state again is IL
Here is the thing I looked up "reduced exclusion residence" and the stipulations are that the "new place of work" is at least 50 miles farther from the old home that the old workplace was from that home.
The thing is we are purchasing a business and the location of
that business is 13.75 miles shy of the (50 mile clause) however the travel in the Chicago area would be in excess of a two hour commute!
HELP HELP HELP!
Can you advise anything?

Thanks!

[abezon]

No, the 50 mile minimum is for claiming moving expenses. There is no minimum distance if the move is related to work.