Ask Terry Questions home sale exclusion of gain

home sale exclusion of gain

By Terry Savage on March 08, 2015 | Housing / Real Estate

Dear Terry, Can you please tell me if the IRS audits all home sales for ownership and use tests regarding exclusion of gain on sale ? Thanks for your advice.

Terry Says:  I don’t know if they audit all sales — but I wouldn’t want to be on the wrong side if you DO get audited!  It could be considered fraud if you take an exemption to which you are not entitled.



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