JML222
Level 5
07-06-2022
12:10 PM
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Hello,
A client is full-time military and being transferred. He and his spouse have owned and resided in their home for 18 months.
So they don't meet the ownership or use test for the exclusion of gain, would they qualify would he qualify for the exception due to military and change of base station?
TIA
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dkh
Level 15
07-06-2022
01:33 PM
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I think Section B of the Home Sale Worksheet may apply to your client's situation. See Line 20
Camp1040
Level 11
07-06-2022
04:41 PM
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For a partial exclusion anyway, and with purchase and selling expenses and improvements calculated, the taxable amount hopefully will be manageable.
