Discussion:Where is His Primary Residence????
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Discussion Forum Index --> Tax Questions --> Where is His Primary Residence????
| 24 September 2006 | |
| Cient lived in Kansas prior to getting married to an Arizona resident. He still maintained his home in Kansas (still lived there full time) and worked in Missouri. His wife continued to live in her Arizona home full time and works in Arizona. (They commuted weekends FYI). They both meet the 2 out of 5 years rule on their individual homes. They filed as Arizona residence on their returns since they've been maarried. They filed and Non-Res for Missouri and Part Year/Non Res for Kansas. All of his income was from Missouri but his home where he truly lived was in Kansas.
He wants to sell his Kansas home and move to AZ now. Is there anyway for him to take the $250,00 exclusion? | |
Death&Taxes (talk|edits) said: | 24 September 2006 |
| Assuming he meets the 2 of 5 rule, which you say he does, I see no reason why he can't claim the exclusion. | |
| 24 September 2006 | |
| An example in Reg. 1.121-1 seems to say okay. | |
| 24 September 2006 | |
| I was questioning because of the way they filed their tax returns with the Arizona address. Thanks for the link! | |
Death&Taxes (talk|edits) said: | 24 September 2006 |
| You are the fastest link man in the East or West, Solomon!!!! | |
| 1 May 2009 | |
| Taxpayer lived in a rental apartment in New York during winter and owned a home in Maine in which he spent his summers during his retirement, he did this for 7 years while retired. Before retirement he lived and worked in New York. He sold his Maine home and moved to CA. Can the 121 exclussion aply here? | |
| 1 May 2009 | |
| Seems to me that it depends on where his principal residence is for purposes of Sec. 121.
See 1.121-1(b)(2) Also, taxpayer would need to have used the Maine home for 2 of the past 5 years. | |
Death&Taxes (talk|edits) said: | 1 May 2009 |
| You might look at Anthony Taylor TC 2001-17 | |
Death&Taxes (talk|edits) said: | 1 May 2009 |
| By the way, did he file returns in Maine? And does he like black flies? | |
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