Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 9 years ago,
Is this right?
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.