Home Selling in 02364>Question Details

jennypan789, Home Seller in Kingston, MA

Does the "two-out-of-five" rule apply to long-term expat?

Asked by jennypan789, Kingston, MA Mon Jul 29, 2013

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The two out of five rule does apply.

The two out of five rule states that you must of lived in the home 2 out of the last five years in order to qualify for the capital gain tax exemption for homeowners. It also lets those that have rented for 2 out of those five years and owned it for a day.
1 vote Thank Flag Link Tue Jul 30, 2013
You should consult a qualified Tax professional
0 votes Thank Flag Link Tue Jul 30, 2013
I would think so but you really need to ask a qualified CPA.
0 votes Thank Flag Link Mon Jul 29, 2013
I would suggest talking to your tax professional to find out.
0 votes Thank Flag Link Mon Jul 29, 2013
What's the "two-out-of-five" rule?
0 votes Thank Flag Link Mon Jul 29, 2013
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