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Updated over 4 years ago,
Taxes: Selling 2 Properties Claiming Exclusion of Gain + Partial
I sold two properties last year, one of which was a rental, but both pass the look back test. Would I be able to claim the exclusion of gain for my primary residence and claim a partial exclusion for my renal or vise versa?
If so, how would I apply the exclusion(s)?
I am married filing jointly and my wife isn't on the rental house. Could I claim the exclusion on the rental and partial on the primary, at which point my wife has never claimed an exclusion or is there more reasonable guidance.
My claim is that due the theft of my car and the burden placed on me financially and mentally qualifies as an unforeseeable event that caused me to move to a cheaper safer house.
My tax preparer disagreed and has asked that I pick up my paper work.