Can we get an exclusion on a home we could never move into?
January 29, 2007
Date: Tue, 07 Nov 2006
We moved 2,000 miles from our home town two years ago because of employment. We were building our principal residence, but never lived in it. Will we qualify for any exclusion on the sale?
Date: 22 Nov 2006
Since you never lived in the residence, it won't qualify as a principal residence and no exclusion will be allowed.
We have more answers to frequently asked real estate tax questions! We also offer up-to-date information about new tax real estate tax developments in Michael Gray, CPA's Real Estate Tax Letter.
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