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E
ered
Level 2
May 6, 2021

sale of personal residence

  • May 6, 2021
  • 1 reply
  • 7 views
  • purchased 13 acres 1974 then built his personal residence now he sold
  • a 4 acre parcel I would like to take the sale proceed and use it as part of the exception to
  • the sale of personal residence.  The land is just there never used for any business 
  • What do you think
    This topic has been closed for replies.

    1 reply

    T
    TaxGuyBill
    Level 15
    May 6, 2021

    Was the RESIDENCE sold?  It is an exclusion for the sale of the Principal RESIDENCE.  Attached vacant land may qualify if sold within 2 years of the residence, but the residence needs to be sold.

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