Two Years Or Five Years

Expert, localized Los Angeles answers provided by Heather Roy

Two Years Or Five Years
	Dear Edith: I understand if I bought the house for five years and live in it for two years, I don't have to pay the capital gain tax if I sell the house.Some say I only have to buy and live in it for two years and not have to pay gain tax.I appreciate your answer.

	Two years right before the sale is enough to qualify.You're not the only one who finds the requirement of ownership and occupancy for "at least two of the five years before the sale" confusing.Think of it this way: you must have been there at least two years "recently." How recently? "Within the past five years."
	Edith Originally published on March 13, 2005

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