ryu14
New Member

Investors & landlords

Hi TaxGuyBill,

 

I'm in a similar scenario however I lived in the property as my primary residence the entire time. Can you please clarify if tax is owed if my primary residence (2 family house no renting) was bought in Nov 2005 converted to 2 condo's in July 2018 and sold 1 unit in Aug 2018. And now the other unit is my primary residence, currently living there now. Would capital gains be owed less the 2 years primary residence versus living in the unit for over 2 years? Thank you!