The house was rented for exactly 3 years and now I’m trying to decide if I should continue renting or sell but I’m trying to avoid paying capital gain taxes
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Yes. You missed the window to sell the home and get the principal residence sale exclusion. You had to have sold it by 12-31-18. The rule is that you must have lived in the home for at least 2 of the 5 years prior to sale.
You could back in for 2 years and that would reduce the taxable capital gain, not eliminate it (the rules are different depending on whether you lived in it before or after renting it)
Yes. You missed the window to sell the home and get the principal residence sale exclusion. You had to have sold it by 12-31-18. The rule is that you must have lived in the home for at least 2 of the 5 years prior to sale.
You could back in for 2 years and that would reduce the taxable capital gain, not eliminate it (the rules are different depending on whether you lived in it before or after renting it)
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