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Get your taxes done using TurboTax
@nejidoreb123 - the simple rule is to avoid the capital gains tax is you must have lived in the residence for 2 of the last 5 years. they don't have to be consecutive months or years, but it does have to add up to 730 nights (2 years) living in the residence.
but this is a little more complicated because you rented it out for 3 years. Did you declare the rent as income? did you depreciate the property during those 3 years?
‎June 21, 2022
6:14 PM
520 Views