Vacation home sales are taxed differently from permanent residences.
Karin Price Mueller | NJMoneyHelp.com for NJ.com
Q. We have lived in New Zealand for the past 18 years and we want to sell our New Jersey vacation home, which we have owned for 25 years. My wife is an American citizen and files tax returns each year, while I am not and I don’t file. The property was rented out as summer rentals each year but never made a profit. It was never our primary residence. The property is held jointly in both our names.
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