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Updated over 2 years ago on . Most recent reply presented by

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17
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9
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Alyssa Magyar
9
Votes |
17
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Primary residence to rental property- 2 year tax benefit

Alyssa Magyar
Posted

I bought my townhome in March 2021 and will have lived there for 2 years in March 2023. I plan to move to be with my husband (military) in December 2022 and rent out my townhome starting January 2023. I hope to rent out my townhome as long as it makes sense- would it be wise to wait until March 2023 so that i can get the tax benefit of living there for 2 years (tax free capital gain) in case I do sell it in the future? Or would it be best to rent as soon as possible and start collecting the cash flow? I would like to live with my husband as soon as I can which would be in December but also want to be wise about the rental and plan ahead. Thank you!

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