However, to qualify there must be a valid reason for the home sale after less than 24 months of owner-occupancy.
The tax statute lists (1) health reasons, (2) job location change qualifying for the moving-cost tax deduction (the new job site must be 50 miles further from old home than was old job site), and (3) unforeseen circumstances, such as divorce, unemployment, multiple births from the same pregnancy, inability to pay the mortgage, etc.
- CAN LIFE TENANT GIVE UP HIS LIFE ESTATE?
- NO RECOURSE IF NEIGHBOR TRIMMED BEAUTIFUL TREES
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