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Updated over 10 years ago on . Most recent reply

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Evan Scott
  • Real Estate Investor
1
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9
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Capital Gains Taxes

Evan Scott
  • Real Estate Investor
Posted

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#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

2 years (730 days) of occupancy required for the exemption.

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