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April 11, 2022
Question

Gain on sale of second home used by my mother

  • April 11, 2022
  • 1 reply
  • 0 views

My wife and i purchased a home for my mother in ~8 yrs ago.   We sold the home in 2021 after we had to move her to a memory care facility.  Everything I have read seems to indicate this falls under the second home sale and i have to pay taxes on the full gain, but was hoping there some exclusions that apply for this particular situations.   Any help is appreciated...

    1 reply

    April 11, 2022

    sorry, no exclusions apply.