Unique Capital Gains Question

[Dillon Cook]

Question for a CPA out there.. I have a client who bought land in March 2022.  She then bought and put a mobile home on the property in July 2022.  Can she sell in March and avoid capital gains tax?  Or since the mortgage and mobile home wasn't until July, does she need to wait until then?

I suspect the anwer, but appreciate some input.  Also, if you're local, I may like to connect you with client.

[Michael Plaks]

@Dillon Cook

Your suspicion is on point. She needs to have 2 years of using the property as her primary residence, which is impossible without a house on it.

It's July 2024, unless she qualifies for some exception, such as having to sell early due to unforeseen circumstances.