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Old 03-07-2018, 09:27 PM
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Real estate capital gains exclusion

I have two questions related to the capital gains exclusion on real estate.

1) How do you prove you've lived at the home for 2 out of the last 5 years?

2) If you build a new home prior to selling on the same lot does this still apply?



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Old 03-08-2018, 01:06 AM
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1) How do you prove you've lived at the home for 2 out of the last 5 years?=======>you may prepare copies of Paystubs, utilities (phone, sewer, elect,etc) , rent, mortgage, insurance (auto and home) among others. Or etc.

2) If you build a new home prior to selling on the same lot does this still apply?============>Correct;your primary home is the onw in which you lives for a majority of the year.



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