Selling home – cap gains question?

Tips and Deals Forums Buying Your Home Buying Your Home Selling home – cap gains question?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 7 years, 8 months ago.

  • Author
    Posts
  • #371787

    Anonymous

    I am in the process of selling my home that I have owned for 5 and half years. We stayed in the home for the 1st 3.5 years, and then rented it for 2 years. If I understand the law correctly, as long as I have lived in the place for more than 2 years in the last 5, I do not have to pay any taxes on the cap gains, correct?

    When filing my taxes last year, I did claim the regular depreciation that you can on rental properties. I assume that in no way impacts the cap gains issue, or does it?

You must be logged in to reply to this topic.

Register New Account
Reset Password