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Updated over 9 years ago,
Tax consequences if I lived 2 year out of 5 in TWO homes
Let's say I have two homes, and I do not want to pay capital gains tax on these homes when I sell.
Let's say therefore I lived in one home for 2 years, and the other for 2 years, all within the last 5 years. During this time, the home I do NOT live in gets rented out.
So after 5 years, I sell a property that I do NOT live in at that time, and then 2 years later that, I sell the remaining property that I live in.
What is the tax consequences of selling each of these homes ?
Thanks all!