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June 7, 2019
Question

I am active duty military and am selling my house that I have owned for 23 months because I have been intentionally reassigned, Am I exempt from capital gains tax?

  • June 7, 2019
  • 1 reply
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    1 reply

    Critter
    Employee
    June 7, 2019

    Yes you are due to being military & the move. 

    Hal_Al
    Employee
    June 7, 2019
    Technically, your military (employment) move  only qualifies you for  a reduced capital gains exclusion. In your case, you are allowed 23/24 of the maximum $250,000 ($500,000 married) exclusion.  23/24 x 250,000 = $239,583.