Yes, your old primary house meet ownership test and use test

来源: 2022-07-19 21:23:07 [] [博客] [旧帖] [给我悄悄话] 本文已被阅读: 次 (1750 bytes)
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You can get Section 121 exclustion ($500000) for your old primary house if you file MFJ.

Because your old primary home meet "Ownership Test (at least owned 5 years)" and also 

meet " Use Test (at least used 2 years)".


Qualifying for the Exclusion

In general, to qualify for the Section 121 exclusion, you must meet both the ownership test and the use test. You're eligible for the exclusion if you have owned and used your home as your main home for a period aggregating at least two years out of the five years prior to its date of sale. You can meet the ownership and use tests during different 2-year periods. However, you must meet both tests during the 5-year period ending on the date of the sale. Generally, you're not eligible for the exclusion if you excluded the gain from the sale of another home during the two-year period prior to the sale of your home. Refer to Publication 523 for the complete eligibility requirements, limitations on the exclusion amount, and exceptions to the two-year rule


多谢。有概念了,要meet "Ownership Test (at least owned 5 years)" and -南山依然- 给 南山依然 发送悄悄话 南山依然 的博客首页 (81 bytes) () 07/20/2022 postreply 07:29:57


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