Have a Tax Question? Ask a Tax Expert
Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.
Did you live in the home at least 2 out of the last 5 years?
Yes, I lived in the home for last 5 years ending on sale date minus that 15 month period from July 2011 to Sept 2012
Then you can exclude the capital gain from the sale of this property
ok, so i can enter '0' for nonqualified use days?
Yes, you would not have any days of non qualified use
Oh ok, I already filed a return with 15 month of nonqualified use reported so I'll have to file an amended return to correct this, right?
Yes, that would be correct.
thank you for your help!
There's you a link to publication 523 where you can see the exceptions to nonqualified use
Is there anything else I can assist you with today?
If not, please rate my response as "excellent" so that I may receive credit for assisting you today
Nope, that's it. I'll go ahead and give you an excellent rating for your help. Thanks!