How A CPA Can Help You:

The Home Was Not Used As A Residence Long Enough For Tax-Free Gain Benefits


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David M. Kaufmann, CPA

Voice: 720.493.4804


Physical Address:

1466 Adobe Falls Way
Fruita, CO 81521

Mailing Address:

PO Box 700
Fruita, CO 81521-0700


You have lived in your home for less than 2 years.

You planned to live in the house for a long time.

Some unusual and unforeseen circumstance made you decide to sell the house.


Generally, if you live in a home for 2 out of 5 years, the first $250,000 ($500,000 for joint returns) of gains are tax-free.

Thus, if you live in your residence for less than 2 years and you sell it for a gain, you might have to pay tax on that gain.


There are some exceptions to the general rule. If the circumstance are right, and, even if you live in the home for less than 2 years, you might qualify to exclude some of the gain.

I can check to see if you qualify for one of those exceptions.