So this year I sold my home and made capital gains off of it. I am trying to figure out how to avoid paying the capital gains and some people told me that if I buy another home and fixed it up and rent part of it out to airbnb then I can reduce my capital gains this year with the cost of fixing up the home and buying things like washer and dryer for the airbnb and painting the airbnb home is that true? Also if become an uber driver and buy a car for it will that also help reduce my capital gains because the car would be consider a business expense? and would reduce the capital gains from selling my home this year? Also last year before I was able to sell the home I had to pay off a lien that was placed on my home but I forgot to report it in my taxes would I be able to report it this year as a loss with my capital gains I got this year from selling my home? Thank you
Also the capital gains come from after the 2 year of living in the home as my primary resident.
