Personal Finance
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by

Tax, SDIRAs & Cost Segregation
presented by

1031 Exchanges
presented by

Real Estate Classifieds
Reviews & Feedback
Updated about 2 years ago on . Most recent reply

Tax Exclusion on Sale of Primary Residence
I lived in my primary residence for 1yr and 9months since I owned it (I was a tenant in the same house for 2yrs prior to owning it) then I turned it into a rental. If I sell it within 5yrs from owning it, would I be able to exclude the tax on the gains up to $250,000
Most Popular Reply

Steve Vaughan
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
- 16,111
- Votes |
- 10,252
- Posts
Quote from @Adeva Edobor:
I lived in my primary residence for 1yr and 9months since I owned it (I was a tenant in the same house for 2yrs prior to owning it) then I turned it into a rental. If I sell it within 5yrs from owning it, would I be able to exclude the tax on the gains up to $250,000
But if the move-out was unexpected and satisfies certain criteria, there may be an exception that allows you to prorate 21/24ths of the gain.
So what required you to stop occupying? Did you move into a rental or buy again?