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Q1: Qualify for Sec121 on AZ residential property in 2024 for my parents who both passed away in 2024?
Q2: RE: ProSeries 2024 1040 - Home sale worksheet - Part II - Did you (or spouse if filing jointly) own and use the property as main home for a total of at least 2 years of the 5-year period?
Facts: Sold AZ property 2.28.24 who are snowbirds.
Purchased WA home 1991 and AZ in 2000.
Voter Registration, WDL, and Federal Tax Return show WA address.
Last 4 years - RE: AZ - Leave in Oct and return in April.
5th Year - Remained at WA home all year due to health conditions.
Both parents did not take any prior Sec121 for the last 5 years.
RE: Q2 - Does the 2-year period have to be consecutive or just be a total of 2 years?