Like the title says, from the filing process and tax questions to tax policy and reform, you can search and share All Things Tax here. This is the place to find answers to all your general questions that don't fall under the other categories. And just a reminder: questions about software or online filing should be posted in DIY Products.
12-04-2017 12:19 AM
12-04-2017 01:31 PM
The current law is for two calendar years. However, you should keep a watchful eye on the GOP tax plan as the two years is proposed to become five years. It's not clear to me if this change (if passed) will apply to you in 2018 or you get a pass.
12-04-2017 05:22 PM
Welcome to the H&R Block community.
Assuming that you claimed the exclusion on your 2015 tax return that you filed in 2016, and that you lived in a house that you purchased in February of 2016, you will be able to claim the exclusion again on your 2018 tax return that you file in 2018. In other words, you claimed it in 2015, so you can't claim in for 2016 or 2017.
However, as was previously mentioned, the tax bill may change the requirements for the exclusion to five years before tax year 2018 has a chance to begin. The Senate passed its bill last week, but the full Congress still has to pass a single bill before anything becomes law so I'm watching and waiting for now. If a new law is not passed by December 31st then 2019 returns and years thereafter will be affected unless the new law specifies that an item will take effect for 2018.
If you have any other questions I'll be glad to help.
Senior Tax Advisor (Tampa, FL)