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Updated over 8 years ago,

User Stats

66
Posts
9
Votes
Jeremy H.
  • Pleasanton, CA
9
Votes |
66
Posts

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

Jeremy H.
  • Pleasanton, CA
Posted

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.

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