Sell My House

I bought a new house and will move in a month. I lived in my current primary residence for 5 years. This house is not ready to sell if the question is how long do I have to correct it and move on capital gains tax is a problem before?

So my child would have lived in the house while fixing it is a problem? we are ready to consider any agreement that the money is not my main concern now then rent / board / stay free are all OK. The least complex solution is preferable.

Thank you for any help, it's the first house I sold.

On the market today, it seems that even if you have entered your house today, it would take some time for it to sell. You long to meet the requirement of two years to use the home as principal residence to avoid capital gains. I assume your concern is here is that if you keep your home for too long it will change its status of being a "second home" and be subject to capital gains. Your best bet for you to be sure of your choice, therefore, is to call or go to the website of the IRS and get the information you need from the horse's mouth. The site is extremely informative, but perhaps a little daunting trying to find the situation that you need explained. Me, personally, call the IRS on the phone when I have these questions. The agents are very helpful, polite, and help you (for free) by telling you your options and tax implications of your choice. They may also send you brochures relevant to your situation so that you get exactly the information you need to make a decision. Relax and do not be afraid to call them - they are very "friendly" and sympathetic to your needs - they are taxpayers too, and your request to give them job security!

First, you have three years to sell the house before facing capitial gains in most cases. But be sure not to cut to close ... even if it is not your fault ... there are no exceptions to go during this period.

Now, if your child is alive and you can not prove that it is for your convience so you might have to take a little rent.


This implies that there are U.S. tax rules.

it might depend where u live.
aus but its 3 months