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Updated about 9 years ago,
2 out of 5 rule on primary residence
How does the 2 out of 5 rule apply to situations over 5 years. Would it be safe to say if I lived at my home for 10 years then rented it out for 3, I would need to sell it before that 3 year period ended to avoid paying capital gain taxes? And If was profitable renting it out past year 3, does that put you at point of no return or would you have to move back in for 2 additional years to avoid the tax?????? Sorry if this sounds confusing,,,,,