Looking for CPA advice, concerning tax implications with Airbnb

[James K.]

Hello BP friends!  This is my first post on Bigger Pockets and I can say this has been an awesome resource already.  I can't wait to be a bigger part of this online community!

I'm thinking of buying a duplex and living in one of the units as an owner.  I'm aware that I need to live in the unit for 2 out of the last 5 years from sale if I want to take advantage of the capital gains deduction (250K single; 500k married).  However, if I rent out my unit from time to time via Airbnb, will this disqualify me from tax deduction even if I'm officially the tenant?

I think the answer to this depends on whether or not this unit is treated as a "rental" or for "personal use" in the tax code.  I think as long as I follow scenario 3 in this article then i'm in the clear.  http://www.forbes.com/sites/anthonynitti/2015/11/0...

Basically if I rent the unit longer than 14 days, but I also live in it for longer than 14 days, it will be considered a residence and I am free of capital gains.

Look forward to hearing from you!