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Updated almost 9 years ago on .
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How long to wait to get another Capital Gains Tax Exclusion?
We bought our previous home in April 2013, lived in it until April 2015, then sold it recently in May 2016, which qualified us for Capital Gains Tax Exclusion.
We bought our current home in October 2014, lived in it since April 2015 and now we plan to sell it.
To qualify for Capital Gains Tax Exclusion from the sale of our current home too, should we:
- Wait until 2 YEARS after the day we MOVED to our current home (April 2015)? or
- Wait until 2 YEARS after the day we SOLD our previous home (May 2016)?
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Wayne Brooks
#1 Foreclosures Contributor
#1 Foreclosures Contributor
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Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
Nope.....While you do only have to live in it for two years, you Also have to wait two years to claim the 121 exemption Again.