All Forum Posts by: Thomas Goedecke

I had someone ask to set up shop for in-home medical care during Covid. I appreciated the idea since nursing homes were hotbeds for infection. But not in my house.

If it doesn’t cash flow after you move out, it’s not a good deal.

I appreciate the reply. My accountant got back to be and said that the quitclaim deed transfer does not nullify the primary residence exemption. The only tax implication would be depreciation recovery. 

I hope this helps someone else in the future. 

@Eddie L.

It was my primary residence for 3.5 years out of the last 5. 

While I am waiting for a response from my accountant, I figured I would try to BP Community. I did try to search, but did not find a similar scenario.

I am considering selling my SFR in North Texas. I lived in it from 2008 to the end of 2020 when I turned it into a rental. Considering I lived in it 3+ years out of the last 5, I would be exempt from capital gains. The catch is that I transferred title via quitclaim to my LLC. Does the title transfer take the 2 out of 5 rule off the table?