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Updated over 4 years ago on . Most recent reply
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primary residence tax ememption, sold in LLC
Curious if anyone has tax advice if a primary residence was lived in for 4 years, converted to a rental and placed in LLC for a year, then sold. Is the gain subject tax or can it fall under 2 of the last 5 year rules for primary residence? I feel like I may have received some bad advice and now curious if I can claim the primary residence at least for a prorated amount of the gain...