edk92

Desperately need some clarification.. We purchased a preconstruction condominium July, 2017. We moved into the condo during interim occupancy December 2021. We had final closing on the condo November 2023. We sold the condo July 2023. 1) What do I enter for the date of acquisition of the property? would it be the date we signed the APS or the date of the final closing? 2) Would the sale of our home be considered a "flipped property" according to the new anti flipping law, even if we bought the condo/lived there much earlier? 3) My concern is that the time we had the condo in our name (final closing) and the time we sold is under a year. We did have a baby in December of 2022 which is why we sold the condo so we do meet the exemption for the sale to be taxed as business income but im still confused on how and what numbers I should be entering. Thank you so much for your help!

Was wondering if you could answer a question I have with regards to acquisition date that you have to enter when filing taxes. Would the aquisition date for a preconstruction condo we purchased be the date we signed the APS or the day of the final closing?? Thank you so much!!!