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Updated over 9 years ago on . Most recent reply

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Say Xiong
  • Investor
  • Fresno, CA
0
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Tax implications on moving back to rental property

Say Xiong
  • Investor
  • Fresno, CA
Posted

I have read a bit about the changes in tax implications when converting a rental to a primary residence.  Here's my story. I bought my first home in 2003 and rented it out in 2006. Since then I have purchased my current home and plan on selling my primary resident next year and moving back to the rental.  When I sell the rental, which will be my primary residence then ( at least for 2+ years), will the 10 years that I have rented out the home have any tax implications upon selling?