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Updated about 8 years ago on . Most recent reply
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Capital Gains on Duplex Househack turned full rental
Duplex purchased in 2012, occupied one unit until 2015 and then rented out the other side. Moved in with my girlfriend in 2015 and the duplex became 100% rented. No new property was purchased. Considering selling the property to lock in equity appreciation gains since it's impossible to find a lender willing to take a 2nd position on an investment property at a decent LTV.
My question is this: Since it was my primary residence and I occupied it for more than 2 years, do I pay capital gains? I'm trying to understand my tax liability and any other expenses outside of my realtor's commissions and depreciation recapture. 1031 exchange is not an option as I am not purchasing a new property at this time.