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Updated over 4 years ago,
Cap Gains/ 2 years live in
Question, To avoid capital gains at selling one must live in the house for 2 of the last 5 years. What if, the property I'm purchasing is a home, with a cabin on the lot and I live in the cabin, not the main living area? I'm still living on the property, but not in the main house which I'll AirBB. Does this count as living "in the property/house" for two years and so does avoid capital gains taxes as long as I buy a home of higher value?
Thanks!!
Denise