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Investors & landlords
"Sheltered"
Let's break that down. You never pay capital gains tax until you realize the gain by selling the property.
However, if you want to use the personal capital gains exclusion of $250,000 (or $500,000 if married filing jointly), you will have to sell the house within 3 years of when it stopped being your main home. You don't get an extension of the deadline for allowing family to live there.
‎August 24, 2022
3:14 PM
1,209 Views