I was hoping some of the pigs on here could clarify a question regarding capital gains tax for the sale of a primary residence prior to 2 years of ownership. I have heard a lot of mixed responses based on annual income, amount gained, etc and wanted to see if anyone has concrete knowledge of this topic.
The quick back-story is I am looking at other areas for school reasons and considering selling my home in Vista. We will be at the 2 year mark at the end of June but were unsure if it is necessary to wait the full 2 years to avoid capital gains tax.
If you are considering selling now, in April and the 2 years are up in June, chances are that it sells after June and this is a moot point.
Just put it on the market 30-45 days before the date where you hit the 2 year mark and if you are lucky enough to get a quick sell make sure that the buyer agrees to close after that date.
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