All Forum Posts by: Taylor Combs

Currently house-hacking a tri-plex in downtown Pensacola, FL.  I love the place, and want to keep it as a rental when I move. My major concern with not selling is missing out on the Home Sale Tax Exclusion - which would negate any taxes on capital gains up to $250,000 - as long as it's owner occupied 2 out of the last 5 years - which it has.

Any advice on how I can capitalize on tax savings now and keep it as a rental?  I understand a 1031 exchange a little, and my concern there is my tax basis would revert to what I originally paid for the home 6 years ago.