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R. Klein, EA
R. Klein, EA, Enrolled Agent
Category: Capital Gains and Losses
Satisfied Customers: 263
Experience:  Over 20 Years experience in resolving tough tax cases
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My father is 92 years old. We had to move him to assisted living.

Customer Question

My father is 92 years old. We had to move him to assisted living. He had to sell his home to pay for the assisted living. He is living on $2,000 of SS per month.
Does this qualify for an exemption from capital gains tax?
Submitted: 5 months ago.
Category: Capital Gains and Losses
Expert:  USTaxAdvising replied 5 months ago.
Did he live in the home as his primary residence for 2 out of the last five years?
Customer: replied 5 months ago.

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