How soon may I sell a new construction ?

[Nick Gavrilov]

Hello everyone! I’ve built a new home and would love to sell my home after the 2hr mark. I asked around and been getting multiple answers from realtors, builders and CPA but don’t have a clear answer on when my day 1 begins; when we established mail services, when we actually moved in (which was about 3 months prior to final inspection) or after the final inspection? TY!

[J Scott]

Let me start with the fact that I'm not a tax or legal professional. And to be honest, I have absolutely no idea what the actual answer is.

That said, I would think that if you are living in the property, it would be difficult for the IRS to argue that it wasn't your personal residence. So, of the three milestones you listed above, I think the date that you moved in would conservatively be the correct date.

Also note that I can't imagine that the IRS cares whether or not you've passed inspections or have open permits.

From the IRS perspective, I imagine that at any given time you're considered to have one personal residence. And I would think that the house you are living in full time wood no doubt qualify.

But again, that's just a random guess from a random guy on the internet... :-)