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Updated about 6 years ago on . Most recent reply

User Stats

42
Posts
18
Votes
Kristy Pedersen
  • Real Estate Agent
  • Philadelphia, PA
18
Votes |
42
Posts

203k, Capital Gains Tax

Kristy Pedersen
  • Real Estate Agent
  • Philadelphia, PA
Posted
I purchased a home in April 2017 with an FHA 203k loan. I’ve been living in the property since December 2017. I know that the IRS offers capital gains exemption for people who have been living in their properties 2 out of the last 5 years so my question is for my personal situation.. does that mean two years from when I closed on the house in April 2017 or two years from when my contractor decided it was occupiable in December 2017?

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