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Updated about 2 years ago on . Most recent reply
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Selling a house hack and tax exemption
Does anyone know how a situation is handled where you have two structures on a property. Live in one structure for 2 years and always rent out the second structure. Then after two years rent out the structure being owner occupied for a year.
If the property then gets sold do you get to pay no taxes on the sale of a primary residence since it was occupied 2 of the last 5 years?
I’m wondering what the most optimal way to do this if there is a huge gain on the sale of the property of up to 500k (filing married)
I’m not asking for official tax advice, I do have an accountant I will finalize this with but I do like hearing other peoples opinions who have done similar.