Can I avoid tax after sale rental property if I used as primary?

[Jeffrey Chang]

Hello.

I have a condo that I lived in for 9 years.  I put it up for sale, but after 6 months it's still sitting on the market.

If I take it off the market and rent it out instead do I have to pay for capital gain tax when I sell it?

I understand that capital gain tax can be avoided if I lived in this property as primary residence 2 years out of 5 years.

Doesn't this mean that even if I rent it out for 3 years and then sell it I would not be subjected to capital gain tax?

Thank you for your input.

[Wayne Brooks]

@Jeffrey Chang Correct....the “2 out of the last 5 years” means you have to sell it Within 3 years of moving out.....sell it at 3 years and a day, pay all taxes.