Capital Gains Tax on Real Estate - 2 Year Exemption --- Need help
I bought my condo for 80k and am selling it for 113k. Does anyone know how strict the exemption is? If the home closes one month before the original sold date, making it 1 year and 11 months, will I not be exempted? Anything else I can do to hold this off? I spoke to my real estate agent and she said she will talk to the other real estate agent to see if they can hold off another month. Anxious to hear back, but I'm looking at about losing 5-6k if they do not want to wait.