Lane KawaokaPoster
Pro Member
- Rental Property Investor
- Honolulu, HAWAII (HI)
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Capitol gains on sale
1) I bought a home in 9/2009 and lived in it for one year. Then I rented it out until current. If I sold it today and made a 100k profit/gain do I pay 80k of the taxes on the gain? If I move back in for 1 more year and avoid it all to qualify for the 2 out of 5 year rule?
2) Also do I have to payback all the depreciation on top of the capitol gains?