Capitol gains? Want to sell my house but I have lived away and rented for 3y 3 m so far. How can I avoid or minimize as much as possible paying high Cap gains

[Anonymous_]

See https://www.irs.gov/taxtopics/tc701

I am presuming that you mean you have been renting your house to a third party (or parties) for the last 3 years and 3 months.

In order to exclude some or all of the gain, you would need to have used the house as your main residence for the last 2 out of 5 years leading up to the sale (refer to the link above).

As it stands at this point, beyond something like a 1031 exchange (link below), you will have to recognize gain and will be subject to depreciation recapture.

https://www.irs.gov/pub/irs-news/fs-08-18.pdf

[AmeliesUncle]

Why did you move?  There are some certain situations that might allow you to avoid some of the capital gains, if you moved for a qualifying reason.

https://www.irs.gov/publications/p523#en_US_2022_publink100073096