Hal_Al
Level 15

Investors & landlords

Q. Must I complete the sale (date of closing) by 10/1/21 to claim a capital gains exemption? 

A. Yes. That's how it works.  Make it 9/30/21, just to be sure. 

 

You will not have to allocate any of the gain to rental time, but will have to pay tax on  the depreciation recapture.