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Can we get an exclusion on a home we could never move into?

January 29, 2007


From:  Susan
Date:  Tue, 07 Nov 2006

Hi,

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?

Thank you,
Susan

Answer

Date:  22 Nov 2006

Hello Susan,

Since you never lived in the residence, it won't qualify as a principal residence and no exclusion will be allowed.

Good luck!
Mike Gray

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.

IRS Circular 230 Disclosure: As required by U.S. Treasury Regulations, you are hereby advised that any written tax advice contained on this website was not written or intended to be used (and cannot be used) by any taxpayer for the purpose of avoiding penalties that may be imposed under the U.S. Internal Revenue Code.

Can we get an exclusion on a home we could never move into?

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