Taxes on Rental property that I lived in for less than 2 years

[Norman Campbell]

I own a rental property in Kentucky.  I purchased it in December 20, 2013.  Due to a new job in Virginia, I moved and rented it out on December 1, 2015.  I now have a tenet on a 18 month lease.  I'm currently renting in Va. and planning to sale the house in Ky. at the end of the lease and buy a home in Va.  After some research its looking like I may be liable for short/long-term capital gains tax.  I also read that I may be able to declare a hardship because of the job relocation and the capital gains tax can be prorated.  

Can any shed some light on this situation?

[David Richter]

I am not a tax attorney (disclaimer, disclaimer, disclaimer), but if taxes are your biggest worry on this sale, then you can always do a 1031 tax exchange and roll the capital gains into a new rental property in VA if you want. I am pretty sure that if you just sell it you will have to pay taxes on the gains since you didn't live in it 2 full years (remember, I am not a tax attorney and am not giving advice) :). I don't know about declaring hardship, so I can't comment on that. I am always looking for cash flowing property, so when you want/can sell you can reach out to me. Hope this helped a little. @Norman Campbell