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Updated over 4 years ago on . Most recent reply

User Stats

6
Posts
1
Votes
Igor Franjic
  • Los Angeles
1
Votes |
6
Posts

CA R.E tax question ?

Igor Franjic
  • Los Angeles
Posted

Hello all,

I hope someone can help me to answer following question…. It’s R.E tax question.

If someone has paid off property in CA (lived more than 10 years as a primary resident), and decided to move to a different state and purchased property there as a primary residents.

He rented the property in CA and after 3-5 years he decided to sell it.

Does he still qualify for the capital tax exclusion for $500k (married)?

What kind of tax he has to pay in CA?

Thanks a lot for any info!!

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