Can I choose which residence to claim an exemption for?
April 14, 2004
From: Ira
Date: Wed, 31 Mar 2004
If you sell two residences that qualify for the principal residence exclusion within a two-year period and the profit from the first sale is small, can you just pay tax on the capital gain from the first sale and claim the exemption from the second?
Answer
Date: Fri, 2 Apr 2004
Hello Ira,
Yes.
Good luck!
Mike Gray
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