Posted February 21 2006 - 04:10 AM
So Feb of 2005 we sold our home in LR and moved to FL which was required by my wife's employer so she could keep her job. We had lived in the AR house for probably 8-9 years.
Now we are looking at the prospect of having to do it again. Sell our home and move to stay employed. I just discovered that the $500,000 exclusion for married couples only applies if you stay in the home for two years, which if this happens soon, we won't.
I was over on the Turbo Tax site and found this information:
| If you needed to sell your home because of a change of employment or a change of health or because of other unforeseen circumstances, you may still qualify for a partial exclusion. |
Anyone know what partial means? This would really suck if we get nailed on selling our home, when employment circumstances force us to sell it.
BTW, anyone know how good Turbo Tax is on handling moving expenses incurred due to an employer required move? Which level of TT would I have to buy? I haven't found any reference to this yet.
Anyone run across a good tax forum?