All Forum Posts by: Account Closed

Dave Toelkes I'm just trying to expand on the op's original question as to when does the 2 year clock start.

Not trying to evade anything, I have no intention of selling. I just want to make sure I'm not getting screwed out of something that I could qualify for because of a simple paperwork glitch.

That's the flashing, a metal (sometimes copper) piece that keeps water from running into the corner where the roof meets the wall. It doesn't look like the tidiest job, did they replace the siding while they were doing the roof? There should be a decorative channel for the siding to tuck into, or at least brought the siding closer to the roof. But if the roof was tear off and the siding was not being replaced, then yes you will have that gap there, especially if you had two layers of shingles on the roof previously.

Brandon Hall Good info, I know you're probably giving me a worst case scenario. I wonder how often someone gets audited when they file for the capital gains exemption. I just remembered that I pay my cell phone and cable bill online, I get nothing in my mail. I guess I could print out the statements that should show my address. No voter registration. No credit card. Car and license still show my parents address, I'm too lazy to get that **** changed. I do online banking so no statements. I guess what I'm trying to say is why would the IRS think I didn't occupy the property since closing when I lived with my parents before, so this is the first house I ever bought.

They could've done a cash out refi or something similar. That's the stuff that gets people in trouble.

Brandon Hall But is that what the IRS uses exclusively? Nowadays with technology such as mobile hot spots, etc... one might not need a "physical" internet connection to function. Would this issue even come up at all or only if the IRS decided to perform a surprise audit? Are there supporting documents that a CPA would need to file in order to prove the occupancy?

What exactly defines "occupying" and how is that proven? I purchased my house a year ago as a primary residence, bills and all came to the new address immediately, but had to stay at my parents house for a few months while I finished renovating. Now, if I'm putting an offer on another property I fill it out as a "non-owner occupant" since I know I can't claim it as a primary residence if I own another house already.

Ugh, the guy is like a slimy used car salesmen. What does the 20k get you? A bus tour through the war zones where he flips his houses? If you're into dealing with car salesman, you'd be better off using the money to buy a classic Porsche 911, using the buy and hold strategy, and watch it appreciate.

Actually, in the western suburbs at least, I noticed that houses sell quicker due to the low inventory. Especially homes that have been rehabbed, people don't want to start renovations in the middle of winter.

Pics or it didn't happen :p