Reply To: Moving in with Mom

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#157744
lampstache
Participant

Having just sold my first home recently, since I lived there for more than two years I was not taxed on the money I made from selling. The key is that you need to have lived there for at least 2 years. Hopefully this will be the same for you.

If you’d like to consider it a consequence you’ll know longer be able to write off your mortgage interest when doing your taxes. Otherwise, I don’t necessarily see any consequences unless not having the write offs will push you into a higher tax bracket.