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Updated about 5 years ago on .
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Primary residence stay "2yrs<1yrs" changes return?
I was doing turbo tax, and im surprised that it is changing my return based on the number of months i claim i used the residence as my primary residence.
I realize over two years is tax free, but im not trying to do this.
I had stayed there for 19 months, and it claims my income is totally tax deductible (which is weird). So out of curiosity i lowered the number down a couple of months (all the way down to 13 months), and it gave me a different number every time i changed the number. Is this a flaw in their software, are is there really a deductible based on time less than 24 months?
I also realize that over a year is long term capital gains, but that is not my question either.
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If you lived in your residence for less than two years and had to sell it due to an unforseeable event, then you get a partial exemption based on the period of time you lived in the home.