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#1
12-29-2004, 01:12 PM
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 Re: California, Sell house that I have lived in for less than 2 years? - quote - > Looking to leave california, will be out of a job in next 6
If you are moving due to work relocation (or lack of work)> months. I have only lived/purchased in the house for under > a year. > Are they ways around not paying the tax (forget the real > name), if I haven't lived there for over 2 years? Many > thanks! you can prorate the exclusion, PROVIDING you have not taken the exclusion in the 2 year window. Helen, EA in PA Director, NAEA; Immediate Past President, PSEA; Tax Expert, AOL Enrolled Agents - THE Tax Professionals << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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12-29-2004, 01:11 PM
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| Re: California, Sell house that I have lived in for less than 2 years? You get a pro-rated fraction of the $250K exemption if you meet any of several exceptions to the 2-years-out-of-5 rule. Moving to take up employment elsewhere (at least 50 miles further away than your present job) is one. Unemployment (eligible for unemployment compensation) or underemployment (to the extent that you can't carry the mortgage) is another. -- Chris Green << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
12-28-2004, 07:41 PM
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| California, Sell house that I have lived in for less than 2 years? Looking to leave california, will be out of a job in next 6 months. I have only lived/purchased in the house for under a year. Are they ways around not paying the tax (forget the real name), if I haven't lived there for over 2 years? Many thanks! << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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| california, house, lived, sell, years |
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