I lost my job. Had to sell the house to pay debt. Is their any way to be exempt from the capital gains tax?

I lost my job and had to sell my house to pay off debt after only a 1.5 years of living there. I still have not found employment and want to know if there is any way to avoid the capital gains tax as I have no money to pay it.

I lost my job. Had to sell the house to pay debt. Is their any way to be exempt from the capital gains tax?
Here is the specific link you will need:


http://www.irs.gov/publications/p523/ar0...





You can exclude up to $250,000 of the gain on the sale of your main home if all of the following are true.





You meet the ownership test.





You meet the use test.





During the 2-year period ending on the date of the sale, you did not exclude gain from the sale of another home.
Reply:Refer to IRS.GOV for information regarding capital gains taxes. I am not a tax professional, but I had a similar question awhile back and called IRS. They said that if we moved because of a job, it would be waived. Also, if you owned it for at least a year, the amount you have to pay is less than if you owned it for two years. I believe after two years, you don't have to pay. Good Luck. Call IRS if you have to. They were helpful, but not necessarily wanting me to avoid paying... I hope you can work it out.