TaxGuyBill
Level 15
11-30-2021
04:40 PM
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@The208Accountant wrote:
A client has been in a nursing home for 10 years due to his inability to care for himself.
and you use the residence as your principal residence for 12 months in the 5 years preceding the sale or exchange,
If the taxpayer did not use the home has their principal residence for 12 months in the last 5 years, no, the exclusion does not apply.