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Updated over 9 years ago,

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1
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0
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Kameel Hawkins
  • Investor
  • Waxahachie, TX
0
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1
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Capital gains tax

Kameel Hawkins
  • Investor
  • Waxahachie, TX
Posted

my husband and I built a house in 2003 and lived in it until 2011 when we rented it and bought a new one, and we are selling the house in May of 2016. In 2011 we lived in it for 9 months. In 2012 we rented it for 8 months. In 2013 we rented it for 5 months. In both 2014 and 2015 we rented it for 12 months each year. The move was due to my husband losing his job we moved closer to his new job and to be closer to an ill parent. We stand to make $75,000 after realtor fees/commissions. Do we meet the 2 of 5 year rule for capital gains taxes?

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