[quadzilla]

Thanks for the info. I am wondering if the tax code will change to write off losses for the sale of a primary residence. In my situation I have lived there for 4.5 years and have had it on the market for eight months with no luck. Due to a growing family I have to move into a bigger place.

I can't say that I will be in the next place for more than five years. I live in a big city and may decide to move to an area with better schools when my kids get to be that age. I would love to buy a place but, I can see a the places in my price range may be worth less in 5 years. I know some people will say rent and that may be the best option for me at this point.

Is there a fundamental reason why the government wouldn't allow losses for a primary residence after you have lived there for a specific amount of time?