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Author: adavidhend Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19224  
Subject: Snowbird Question Date: 5/1/2000 7:56 AM
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Advice is requested on avoiding cap gains tax on sale of home.Can 6 months per year be counted in the occupancy requirement of 2 years out of the last 5?
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Author: TMFExRO Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3789 of 19224
Subject: Re: Snowbird Question Date: 5/1/2000 8:43 AM
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<< Advice is requested on avoiding cap gains tax on sale of home.Can 6 months per year be counted in the occupancy requirement of 2 years out of the last 5? >>

Your occupancy need not be continuous, it just has to add up to 2 years. Remember that this is 2 years occupancy as your MAIN home.

There have been a couple of recent threads about this issue over on the Tax Strategies board in the Managing Your Finances folder. You might want to check them out, as well as IRS Publicaiton 523.

TMF ExRO
Phil Marti

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