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Updated almost 8 years ago on . Most recent reply presented by

User Stats

42
Posts
47
Votes
Kendra Ellis
  • Investor
  • knoxville, TN
47
Votes |
42
Posts

2018 Capital Gains Rule Change

Kendra Ellis
  • Investor
  • knoxville, TN
Posted
My CPA is telling me that I can no longer sell my primary residence after 2 years to avoid capital gains tax. Is this true? Our 2 year anniversary in our current home in next month, we are ready to pull the trigger and list it and we will stand to make a huge profit from this sale. He is saying that on Jan. 1, 2018 it has changed that you need to living in the home for 5 years instead of 2. Any CPA out there that can verify this?

Most Popular Reply

User Stats

243
Posts
226
Votes
Matt H.
  • Real Estate Broker
  • CA
226
Votes |
243
Posts
Matt H.
  • Real Estate Broker
  • CA
Replied

Don't need to call anyone, just click this. PS, maybe get a new CPA.

https://www.irs.gov/taxtopics/tc701

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