Property (Basis, Sale of Home, etc.)
Question: If I exclude the gain on the sale of my former principal residence this year, can I take the exclusion again if I sell my new principal residence in the future?
As long as you satisfy the ownership and use tests and have not excluded gain from the sale of a principal residence within the two- year period ending on the date of the sale, you can exclude gain from the future sale of your principal residence within the limits of the exclusion. As long as you meet the requirements of the exclusion, the number of times you claim the exclusion is not limited.
Category: Capital Gains, Losses, Sale of Home
Subcategory: Property (Basis, Sale of Home, etc.)