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Old 04-03-2017, 05:57 PM
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Capital Gains from Life Estate

My uncle transferred ownership of his condo to 9 nieces and nephews in 2008 and the deed was recorded and included was the provision he lives in the condo rent free till his death. So he continued to live in the condo until his death in 11/2013. The 9 nieces and nephews sold the condo in 10/2016. My question is can the 250000 exclusion apply? The condo has been vacant since his death. Not one of the 9 on the deed lived there. Any workarounds.



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