{"id":2997,"date":"2022-10-08T09:43:02","date_gmt":"2022-10-08T09:43:02","guid":{"rendered":"https:\/\/suntaxconsulting.com\/?p=2997"},"modified":"2023-03-09T11:50:51","modified_gmt":"2023-03-09T11:50:51","slug":"selling-your-home-important-things-to-know","status":"publish","type":"post","link":"https:\/\/suntaxconsulting.com\/ru\/selling-your-home-important-things-to-know\/","title":{"rendered":"\u041f\u0440\u043e\u0434\u0430\u0436\u0430 \u0412\u0430\u0448\u0435\u0433\u043e \u0434\u043e\u043c\u0430: \u0432\u0430\u0436\u043d\u044b\u0435 \u0432\u0435\u0449\u0438, \u043a\u043e\u0442\u043e\u0440\u044b\u0435 \u043d\u0443\u0436\u043d\u043e \u0437\u043d\u0430\u0442\u044c"},"content":{"rendered":"

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In 2021, there were 6.9 million home sales in the U.S. and this figure was projected to increase to seven million by 2023. The number of home sales has steadily risen since 2011, except for two slight dips in 2014 and in 2018.<\/p>\n

Find more statistics at Statista<\/a><\/p>\n

Selling your home is an important and stressful life event. A new job opportunity, growing family situation, sudden divorce or another major life event can be a compelling reason to sell your home and move elsewhere.<\/p>\n

No matter what the reason for sale is, you should be aware of possible tax implications.<\/p>\n

Before moving on to a discussion of possible tax consequences, it is very important to define \u201cmain home\u201d (or \u201cprimary residence\u201d) concept.<\/p>\n

According to IRS, an individual has only one main home at a time. If you own and live in just one home, then that property is your main home. If you own or live in more than one home, then you must apply a “facts and circumstances” test to determine which property is your main home. While the most important factor is where you spend the most time, other factors can be relevant as well.<\/p>\n

If you have a capital gain from the sale of your main home, you may be eligible to exclude gain from sale up to $250,000 ($500,000 for married filing jointly).<\/p>\n

In order to qualify for this exclusion, you generally must meet three eligibility tests:<\/p>\n

    \n
  1. Ownership Test<\/li>\n
  2. Residence Test<\/li>\n
  3. Look-Back Test<\/li>\n<\/ol>\n

    Please note, that it is not enough to meet either one of them, you have to meet all three tests to qualify.<\/p>\n

    If you owned the home for at least 2 years (24 months) out of the last 5 years before the date of actual sale\/closing, you meet the ownership test<\/strong>.<\/p>\n

    If you owned the home and used it as your residence for at least 2 years (24 months), either consecutive or not, out of previous 5 years, you meet the residence requirement<\/strong>.<\/p>\n

    A vacation or other short absence counts as time you lived at home (even if you rented out your home while you were gone).<\/p>\n

    Look-Back test allows you to take the exclusion only once during 2-years period. In other words, you meet the look-back requirement if you didn\u2019t sell another home during the 2-years period (or, if you did sale another home, you didn\u2019t take an exclusion).<\/p>\n

    If you don\u2019t meet one or more of the three eligibility tests, you may still qualify for a partial exclusion of gain.<\/p>\n

    You can meet the requirements for a partial exclusion if the main reason for your home sale was a change of your work location, a health issue or an unforeseeable event.
    Work-related move can make you eligible for partial exclusion in the following cases:<\/p>\n