Updated over 10 years ago on . Most recent reply

Subdividing primary residence/capital gains tax question
Hello
I've lived in my house 2 out of 5 years but want to sell the garage/lot to my neighbor and the house to another seller.
Do I have to pay capital gains tax on one of the transactions or would they both fall under the primary residence exclusion? (Total sale for both is less than 250k)
Thanks in advance