Skip to content
Tax, SDIRAs & Cost Segregation

User Stats

50
Posts
3
Votes
Jeremy H.
  • Pleasanton, CA
3
Votes |
50
Posts

unusual situation: not sure if I own capital gain taxes?

Jeremy H.
  • Pleasanton, CA
Posted Oct 25 2016, 14:21

If the property sat vacant for most of 5 years do I owe capital gain taxes or not?

Here is requirement on intuit site in order not to owe capital gain taxes

  • You owned the home for a total of at least two years in the five-year period before the sale.
  • You used the home as your primary residence for a total of at least two years in that same five-year period.
  • You haven't excluded the gain from another home sale in the two-year period before the sale.

Loading replies...