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Infolawyer, Attorney
Category: Estate Law
Satisfied Customers: 56516
Experience:  Licensed attorney helping individuals and businesses.
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I bought a house in GA in March 2013. I just sold that house

Customer Question

I bought a house in GA in March 2013. I just sold that house in May. So, I have owned it for 26 months.
- My net profit from the sale was $22K. (The gross difference btwn purchase and sale price was more like $32K.)
- I, my partner, and our child lived in the house from March 2014 to Feb 2015. I left with my child in Feb 2015, and he and I have been staying at my mom's in AL since then.
- My (ex-)partner has continued to live in the house while my son and I have been at my mom's.
- I have been the one paying the mortgage on the house the entire time (all 26 months in total).
- I have not been paying rent or mortgage anywhere else since Feb 2015, although I did change my address with the USPS so that I would get mail in AL.
- My son and I have gone back to the house several times, so that he can see his father, I can pick up belongings, etc. But most of my belongings have stayed in the house this entire time.
- My driver's license and voter registration are still listed as GA.
- I telecommute to a company based in MA, so I filed a partial GA/partial AL return for 2015.
Given all of that info, do I meet the requirements for exemption from capital gains tax based on the home being my primary residence for 2 years?
Submitted: 1 year ago.
Category: Estate Law
Expert:  Infolawyer replied 1 year ago.

Reviewing your facts.

Expert:  Infolawyer replied 1 year ago.

From facts provided you would qualify for the exemption from CGT.

Expert:  Infolawyer replied 1 year ago.

Please rate me positively.