Date: Thu, 30 Mar 2006
We now own a condo that my husband and I have lived in for a year. We are in the process of buying a house that has a bedroom and bathroom downstairs. We are buying the other house because my mom, who will visit us soon, canít climb the stairs to get into the condo.
Can we claim the exemption on the basis of health, since my mom had surgery and canít climb stairs easily?
Date: Fri, 05 May 2006
There is no ruling on this question. If your mom was moving the residence, I would say you would fall under the unforeseen circumstances exception. I think itís questionable whether accommodating a visitor would qualify.
Again, after paying your selling expenses, will you have much of a capital gain?
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