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Updated almost 10 years ago on . Most recent reply presented by

User Stats

74
Posts
11
Votes
James Maher
  • Real Estate Investor
  • Campobello, SC
11
Votes |
74
Posts

Is this right?

James Maher
  • Real Estate Investor
  • Campobello, SC
Posted
I'm reading a book and the author mentions the primary residence capital gains exclusion. Either it is worded weird or he is just flat out wrong. The book states that you can live in a house for 2 years and rent it for 3 years and then sell it as long as it is sold within the 5 year mark from when you first lived in it as your primary. Is this just an odd wording or what? The sentence makes it sound like if you lived in a property for 10 years and rented it out for 3 that you would pay capital gains upon the sale.

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