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Updated about 7 years ago,
Will I pay Capital Gains or is it considered an exchange?
Hi, I'm very new to Real Estate transactions. Before I make a costly mistake I'm hoping someone can shed some light on what the consequences are of selling my condo. I purchased 04/16. My then fiancé purchased a duplex 01/17 and we married 09/17. I can sell my condo and profit around $100k and house hack the duplex so our max out of pocket each month as long as our rental stays occupied is $300.
How much in taxes will we pay as a result of the sale? What are our options to minimize our tax liabilities?
Thanks in advance for your assistance, looking to list condo in December.