I am married filing jointly, but was the owner of an apartment that I sold in 2019. Details:
- Purchased in Feb 2012 and it served as my primary residence
- Started renting it out in Jan 2017 (no longer lived there)
- Sold it in Dec 2019
Does the 2-out-of-5 year rule apply? Do I have to pay capital gains on the gain of $150,000?
Thanks you in advance for your expert advisement.
