Mt051018
New Member

Capital Gains Exemption

Hi, I’m considering selling my rental home. We lived in this home as our primary residence for 3 out of the past 5 years. The last 2 years, we’ve been renting that house out and have a separate home which has been primary. My question is: since we own 2 homes right now, are we able to sell the rental home and be exempt from the capital gains tax since we lived in that home for 3/5 years? Or since we own 2 homes, do we not qualify for that exemption anymore?