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Tax on the Sale of Primary/Rental Home
Hi,
I lived in my apartment for 4 years then rented it out for almost 3 (Lease ends in Dec2022 and it would hit the 3 year mark)
I plan to sell it this year, it's about $45k of gains. I have to pay 15% federal + 10% to state.
If I move back in right after the 3 year mark for a couple months until the sale can I exclude all capital gains or is it prorated?
Or should I not move in and try to sell it before the 3 year mark if I want to avoid tax on gains?
Topics:
‎June 21, 2022
5:59 PM