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Updated over 10 years ago on . Most recent reply
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Capital Gains Taxes
I bought a 3 flat in December of 2012. I have lived in it since that date. I am looking to sell my place at a profit of ~$150,000. I technically will have had it as my primary residence in 2013 & 2014, but it has not been 2 calendar years since I have bought. Will I have to pay cap gains on the profits from the sale or does this still qualify as having lived in it for '2 years'? Thanks!
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Wayne Brooks
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2 years (730 days) of occupancy required for the exemption.