All Forum Posts by: William Carroll

Thank you Natalie. I think you understand my uncertainty. I understand I can't have two primary homes, but since my wife and I did spend did spend about 10-15 percent of our time in the old house (the one we are considering selling) and we didn't rent it until January 2018, does that come into consideration at all? Or is the cutoff date just determined when we closed on our new house? 

Thanks Jayden. The question is, I lived there on and off while doing renovations in 2017. Does that count?

My wife and I bought a new house with my father (so we could all live together; my father is elderly) in October 2016. We kept our old house, which I have owned since July 2000, and spent about a year doing renovations on it before we began renting it to a tenant in January 2018. We are having some tough financial times now and are considering selling our rental property, but I'm not clear on when the capital gains would apply on the sale of the rental property. Thanks in advance.