There was a housing act in 2008 that changes how much of the 250/500k exclusion you can claim if the home was used as a vacation home or a rental for anytime between 2008 and present.
Can’t I own and reside in 2 homes for at least 730 days in a 5 yr period? As long as the sales were 2 years apart, could both be exempt up to the $250k/$500k limit?
Do you have any idea of what % of homeowners get audited from their cost basis to their sell price? Informative video.I am looking forward to a real estate agent's experience in a forward video.
Can’t I own and reside in 2 homes for at least 730 days in a 5 yr period? As long as the sales were 2 years apart, could both be exempt up to the $250k/$500k limit?
Very Very Helpful!! Thank you!
Hi @evabock5014! We're so glad it helped - thanks for watching!
There was a housing act in 2008 that changes how much of the 250/500k exclusion you can claim if the home was used as a vacation home or a rental for anytime between 2008 and present.
Thank you for sharing that.
I love this channel!
Thank you!
Thanks for another great video. Left that little blooper in there too. LOL. Maybe you should do a blooper video sometime. Might be fun.
Thank you. Thought that blooper would catch some attention...
What's the impact if you are single and the capital gain is more than $250,000?
Can’t I own and reside in 2 homes for at least 730 days in a 5 yr period? As long as the sales were 2 years apart, could both be exempt up to the $250k/$500k limit?
Do you have any idea of what % of homeowners get audited from their cost basis to their sell price? Informative video.I am looking forward to a real estate agent's experience in a forward video.
That might make a good topic for a future episode. Thank you.
Can’t I own and reside in 2 homes for at least 730 days in a 5 yr period? As long as the sales were 2 years apart, could both be exempt up to the $250k/$500k limit?