All Forum Posts by: Bridget Gratton

Thank you Eddie, someone did mention to my husband that there may be a hardship clause. It would be a real bummer to not make anything off of it since I myself was the contractor. I was hoping to make at least 20-40k but you are probably correct about that being what is taxed. 

I will find an accountant and do some inquiring. 

We started building a home for our family and 2 disabled extended family members. There were 4 incomes to pay the mortgage. Half way into building both of the extended family members unexpectedly died just days apart from each other. I also had unexpected back surgery which has not been successful and I can't work. Now we are down to just one income and can't afford the mortgage. The home will be done in 2 months. 

Will we be taxed substantially if we sell the home before we have lived in it for 2 years?