nejidoreb123
Returning Member

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?