Yes exactlyway2roll. And it’s that easy especially if you have an active physical address to claim.
Look at it like this. Pretend you’re just moving and get to “live for free” with family. You would do exactly what you’re describing.
Now regarding the RV purchase. You have half the sales tax in NC assuming you’re buying new or from a dealer. If considering private sale, figure that out for both states. May have no sales tax. BUT doesn’t NC get you on annual personal property tax? That how they make up the low sales tax, no? If so, buy in NC. Then “move” right away, so you don’t get hit with it the following year or whenever it’s assessed.
Also don’t worry about still inhabiting your NC home. If you switch all the bills to the FL address it’s now just a second home scenario.
And based on your posts you (and most of us) are not the target of the IRS and States for tax evasion. Lol.
Although fckin Colorado came after me this year. You could tell It was literally a pre-programmed fishing expedition targeting out of state landowners who sell their property in CO right before the statute of limitations expires. CO tries to get you on both ends if you’re an out of stater. When you sell you pay a set % of tax to the state just to get the deed processed. Then they hope you made more $ on it than what they already collected for. But by their state laws and allowable deductions to figure cost basis we got back most of their initial tax. 3 years later they send a random request requesting “more information” or they will go back on what they allowed on your tax return 3 years ago. Fortunately my cost basis calculations were legit….
You won’t have that issue when you sell your house as it was your primary residence. Although make sure now what the timeline is that you can have as NOT a primary residence and rules surrounding secondary residence and the capital gains exemption so you aren’t at risk of losing the cap gains exemption….whenever.
I say that because Im getting phucked on that now as well. Selling my house in WA that was co owned with my wife. But now my cap gains exemption is half since I already got phucked once by her passing away at a young age, both personally and) of course and now financially twice. Great expense for years due to her inability to work and health problems while raising a family and the cost and extra expense of care. And now because I’m getting taxed more while never getting the married exemption benefits on a large taxation item.
And the annual tax deduction is **bleep** as well because we was financially responsible and don’t have a large mortgage.
In hindsight I should have “sold” the house to our son (who was 20 years old at the time). Could have juggled the $ that way. Took the cap gains exemption as married and also protected him from having a cap gains tax now when “he” sold it. Not me.
