Anyone a CPA or tax savy! I have a couple of major questions???
Husband just got transfered from NJ to GA (although we kind of requested the transfer???). We own a home in NJ but have only owned it for 1.5 years. Technically it is still our primary residence if we haven't sold it, right, and if we haven't bought anything else? I need to keep the house until August to avoid cap gains (the two year thing). So is it still my primary residence even though we are physically in GA now? This would obviously be affecting the '05 tax year, not '04, but I'm trying to just see where we stand. We owe a pretty significant tax debt, so I need all the income I can get. Also, what are the stipulations for claiming moving expenses when one has been transferred? Sorry for the long post. My accountant won't even talk to me until February, so I want to be prepared.