All Forum Posts by: Cj McDougal

Thank You for the replies...I have looked into the 1031 exchange which requires that I purchase another property..apply for a loan etc..At this time in my life I am more interested in not assuming additional debt but rather purchasing free & clear. Currently on paper, I do not have the income that would support applying for additional debt. Im still exploring options and appreciate all the suggestions looking at a cap gain of $500k+..was given an approximate of over $150k tax hit.

Thank You

Hi, I have a triplex that I am considering selling in the next few years. Currently the triplex is all tenant occupied. I know that capital gains protection is $250k if your are single and $500k married and lived in the property 2 out of the last 5 years (California). I am single and wondering if i moved into the property would I qualify for the $250 exemption or would it be 1/3 of that since its a triplex? Just curious if its worth it for me to move in there for 2 prior to selling...of course I would have to rent my house out get storage etc...

Thanks

LilNomad