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Updated about 11 years ago on . Most recent reply

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58
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Shelli Callan
  • Real Estate Broker
  • Kalispell, MT
20
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58
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2 out of 5 year tax question.

Shelli Callan
  • Real Estate Broker
  • Kalispell, MT
Posted

My daughter and son-in-law were given a house as a wedding present, (nice I know) when can they sell it, and not pay capital gains. An uncle bought it and they moved in, they have lived there for 2 years but only took title of it in May. Does their 2 years start when they moved in or when they took title? They have rehabbed it and are anxious to do the next one!

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Shelli Callan Broker with Ideal Real Estate

Most Popular Reply

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Will Barnard
  • Developer
  • Santa Clarita, CA
10,946
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Will Barnard
  • Developer
  • Santa Clarita, CA
ModeratorReplied

Clock states when they actually took title, anytime before that and they were not "owners".

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