| Reduced Exclusion.... What is the name of your state? IL
Thanks abezon for the info but of course I am still confused. As far as I interpret the "reduced exclusion" clause I can't see where it distinguishes that the 50 mile rule is only if you want to claim moving expenses. We don't care about moving expenses we will cover them all - we want to be able to sell our home and avoid capital gains taxes after only living in it for 13 months. How do we do that? Thank you so much in advance you have no idea how much your help means to us.
P.S.
we got a reply from another member that read "as far as I knoe the IRS does not care how long your commute is and there is no exception to the exception for that. I would stay in the house until you can seel for full exclusion (two years) or move to someplace that is farther away"
Is there any merit in this advice? |