I will be selling a rental property that I have owned for 30 years. The property was my primary residence for the first 6 years of ownership and has been rented out the last 24 years. Will I be able to exclude a pro-rated portion of capital gains related to the time I lived in the property?
No. You must have lived in the property as a main home for 2 of the last 5 years before the date of sale. Your property is strictly business property now.
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