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Updated over 4 years ago on . Most recent reply

User Stats

30
Posts
11
Votes
Kelly Moniz
  • Raleigh, NC
11
Votes |
30
Posts

Converting rental to primary residence avoid capital gains.

Kelly Moniz
  • Raleigh, NC
Posted

I am considering moving into one of my rental properties to avoid paying capital gains taxes. It is worth about 275k more than I have in it. I have rented it for the last 8 years. How long would I have to live in it to avoid paying capital gains tax at sell. I’m getting mixed answers. Some say two years, others say it will have to be prorated etc. would 5 years be the correct answer to avoid all capital gains taxes? I know it’s capped at 250k for single persons

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