Start a new topic
Discussions ezLandlord Questions and Answers General Property Management

Capital Gains on Rental property that was residence

I bought my condo in 1997.  In 2013 I acquired another property which I moved into July 2013.   I rented my condo out in July of 2013.   I am thinking about selling condo this year 2016.  What are the capital gains implications.   I am confused about (if you have lived in it 2 of the past five years it qualifies as personal residence.   Would this mean I would have to sell before or in July of 2016.  It even states if you have lived in it 2 of the prior past 5 yrs.  I guess the bottom line is  will I have to pay capital gains on profit?  Would it be on the full amount of profit?.
1 Comment
It would be best to contact your CPA.
Login to post a comment
More topics in General Property Management
  • Covid-19
  • Renter paid Initial lease payment but never ez signed
  • How to Utilize The PayStub?
  • SHOULD BOTH NAMES BE ON LSE IF TENANT AND GIRLFRIEND BOTH LIVE THERE
  • PA Landlords
  • transfering leases on a sale.
  • Credit Checks
  • Upset tenents.
  • Month to month rent increase
  • Apartment Hotel question
    ezLandlord, Inc. 22228 St. Barts Lane Estero, FL 33928
    BECOME A MEMBER - TENANT SCREENING - FORMS - PRICING - RESOURCES