Section 121 Exclusion for Traveling Careers
Hello BP world,
I have a questions regarding the section 121 exclusion requirements. I am a traveling construction superintendent and I spend the majority of my year out of state but I do travel home every couple weeks. My girlfriend and I are looking to buy a home to do a live-in-flip and work on the renovations during my weeks/weekends home. I am scheduled to finish traveling in roughly 2 years and I am trying to time my official move home with the 121 exemption timeframe.
If we buy a place I plan to list it as my primary residence on all applicable paperwork and she will be living there full time. However, I would be the only borrower listed on the mortgage and I technically would not be living in the house the majority of the 2 years. Would we still qualify for this exemption?
I appreciate any input!
Thanks,
Shane Voyles