Business, 17.03.2020 20:35 brandiwingard

Ed owned and used his home in Kentucky as his principal residence for 15 years. He moved to another state in the 16th year and rented the Kentucky home. Two years later he sold the Kentucky home. Ed's brother, Fred, had two houses. Fred owned and used his home in Tennessee as his principal residence for 10 years. He had another home in Florida. In the 11th year, he moved into his Florida home. He resided there for 3 years and then sold the Florida home. Which brothers has "nonqualified use" of his principal residence that will reduce the exclusion on the gain on a sale of a personal residence?

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Ed owned and used his home in Kentucky as his principal residence for 15 years. He moved to another...

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