Capital Gains Advice - Sell or hold

[Chris Burke]

I am looking to speak with a tax professional regarding potential tax implications of selling our former primary residence that is currently being used as a long term rental. Trying to understand if we should sell now while we can still avoid capital gains or should we hold property as the area continues to become more and more desirable. 

[Michael Plaks]

Quote from @Roberto Cordero: 

Michael, you are right, I just got confused with losses. I couldn't write off any losses because I made more that $150k.

1. I'm always right, except at home  :)
2. These losses are unlocked when you sell