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Selling home: accurately counting the day lived in for capital gains exclusion
Posted on 4/11/21 at 9:32 pm
Posted on 4/11/21 at 9:32 pm
I lived the home for 5 years then I rented it out for the past 4+. My understanding is the exclusion is just the ratio of months lived in/24 * $500k for married couple. Do you count the month for or against if you lived in it for at least one day?
1
Posted on 4/11/21 at 9:35 pm to C
Unless something changed, I believe it is you have to live there for 2 out of the last 5 years and you can exclude up to $250,000 per person for married couples.
Posted on 4/11/21 at 10:03 pm to TheOcean
Correct
This post was edited on 4/11/21 at 10:03 pm
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