I bought a house as a primary residence in Dec 2011 for $220K, lived there for 3.5 years, and then in June of 2015 bought a condo in the city and moved there. I rented the house for a 1 year, and now I’m planning to sell it for $440K. I have a following question:
At the moment my total ownership of the house is 4.5 years. Should I wait another 6 months to sell it and avail the $250K Exemption as a single person? In other words do I need to wait for 5 years to get this exemption or can I sell it now?
