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Updated about 6 years ago on . Most recent reply presented by

User Stats

55
Posts
18
Votes
Janine Badic
  • Rental Property Investor
  • Jacksonville, NC
18
Votes |
55
Posts

I move often! Help me understand the Sec 121 Tax Exclusion time

Janine Badic
  • Rental Property Investor
  • Jacksonville, NC
Posted

So, I'm in the military and have now moved 3 times in 3 years.  I need advice/validation that I can utilize the US Code 121 Exclusion of gain from sale of principal residence more then every two years if the reason I am moving is due to employment and that I am only taking a partial exclusion (prorated based on amount of months spent in the home OR since the last time I took the exclusion)... does that sound correct?  Thanks.

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