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Updated over 5 years ago,
Residency Exclusion for Capital Gains 2/5 years for triplex? Pror
I own and live in one unit of a triplex (three houses sharing one lot). I just wanted to confirm that I'm OK moving from unit to unit to still get the capital gains residency exemption:
Would it be OK to prorate the amount when sold of where I'm living % based on square footage of the units?
For instance I've lived in unit 1 for 2 years, then I move to unit 2 and live in for 2 years. Then as long as within 4-5 years I would still get the capital gain residency exemption when I sell correct?
And I could prorate the 2 units based on square footage correct? Or would I have to just prorate by unit amount like 2/3 of the total capital gains?