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 over 5 years ago,
House Hack Tax Question
Hey all!
I purchased a duplex in May of 2015. I lived in one unit and rented out the other unit until Aug of 2018.
I plan to sell the property within the next 2 months and should likely met $50k-$70k due to appreciation in the area.
As I have lived in one unit for 2 of the last 5 years as a primary residence, am I exempt from taxes on the gain?
My CPA said I would owe a prorated amount due to only occupying one unit.
Hoping for some additional input! Thank you!!
-Tommy