Posted by Joe on July 16, 2003 at 10:26:57:
Thanks for the info Diane.
I’m still surfing section 121 of the IRS code for information concerning this particular exemption but I can’t find anything difinitive. Do you know of a particular IRS form or publication that states the exemption?
The person I’m working with (seller) has an attorney who says he’ll (seller) will have to pay tax on the difference. My seller lived in the house for the last (5) years and should be eligible for the exception. But my seller and his lawyer need proof. Can you help?
Again any help will be appreciated!
PS I don’t have any spare cash to pay a CPA to give me proof.