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Capital Gains Strategy Question
I purchased my personal residence about 12.5 months ago with personal non-business funds. I want to sell my house and use the proceeds to purchase a Duplex which I can use to House Hack. Will I be subject to the long-term capital gains rules, or since I plan to live in 1/2 of the duplex with it qualify as a rollover of equity? Any tax strategies suggestions are appreciated.
I am sure I'm not the first to do this, but couldn't find a doc talking about a person selling their home under the current tax laws to live in 1/2 a duplex and rent the other.
Thanks!