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I bought a property and lived in it for 1.75 years, then rented it out for 2.5 years. If I move back in for 0.25 years will I qualify for the $250,000 primary exemption?
I bought a condominium a little over 4 years ago and now wish to sell. I lived in the property for 1 year 9 months, then moved out so that I could live in a shared apartment with my fiancee. I then rented the condo out for the next 2 years and 6 months. I now realize I need to have lived in it for 3 more months to qualify for the primary residence tax exemption, which exempts you from 250,000 in gains if you live in the property for 2 of the last 5 years. If I move in for 3 months prior to selling, will I be qualified for the $250,000 exemption?
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‎June 4, 2019
12:24 PM