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Personal Finance (Not Investing) • Qualification for capital gain excursion on primary home sales

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I am trying to understand the qualification of my home sale from Capital Gain excursion.
I have a house in NYC where I lived from   2009 until August 2022 then as of Sept, I have moved to NJ, updated Drivers license, file NJ state tax as residence.  The home has been used as a rental starting Nov 2022 and I just ask  the tenant to vacant the home.   (lets assume they are gone by Dec 2024)  In order to claim this as a primary home, do I have to close the sales of this house by August 2025? Or do I have the ability to treat this home as a primary home from Jan -Aug 2025 if I do not rent it out and put gas/heat in our name?  Also the home is 10 mins from my husband's work.  Does it provide qualification as a primary home?

Statistics: Posted by Ccthealias — Sat Oct 12, 2024 6:50 pm — Replies 1 — Views 151



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