cmoneyt8ker
New Contributor
Ok I know there is a rule about selling your primary residence once every two years and it is excluded from capital gains tax. My question is can you do it once every two years or does the two years start after I purchase my home. Confusing I know let me give an example:
I bought a house in December 07. It was my first house. Can I sell it now and not pay capital gains? Then obviously on my next house I will have to wait two years. I am still using the "every two years" rule in my scenario. I hope I have explained this well enough...
I bought a house in December 07. It was my first house. Can I sell it now and not pay capital gains? Then obviously on my next house I will have to wait two years. I am still using the "every two years" rule in my scenario. I hope I have explained this well enough...
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