I'm wondering about the capital gains taxes on the sale of a second home (condo). Although my wife and I never lived in the condo (we did stay in it each year for about 2 weeks each year), it was purchased in 2012 for our sons to live in while they were in college. So, it was used for both family AND for rental purposes: We rented out the extra rooms to friends of theirs to make college more affordable for all. All to say, we are now selling the condo, and we see that there are capital gains taxes for investment properties, meaning second homes or condos like this. Is that still true if our dependents lived there the entire time? We have owned in for 9 years (2012-2021) for the purpose of having a place for our sons to live. Thanks for any help you can give on this.
