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Updated almost 4 years ago on . Most recent reply presented by

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Silva Ajemian
  • Member since Apr 2, 2021
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Silva Ajemian's profile image
Silva Ajemian's profile image
Silva Ajemian
  • Member since Apr 2, 2021
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Silva Ajemian
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1031 Exchanges

Owner occupied 2 family townhouse in brooklyn

Silva Ajemian
Posted

My husband and I are selling our 2 family townhouse in Brooklyn. We never rented out the 2nd unit and have lived in the entire structure for 7 years as one family. The house has no CofO but dept. of finance lists it as 2 family. When calculating tax on profit, will We be able to take 500k (married) deduction on the entire house or only for one of the units? 

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