Updated almost 8 years ago on . Most recent reply
Sell My Rental or Not?
When my husband died, I had enough life insurance to pay off our home. I soon realized that it was too much for me and started renting it out. I purchased a smaller home for myself.
Now I am planning on selling the rental after renting it out for four years. I just learned that I might have to pay capital gains if I sell it. Is there a place I can go to learn more about this works so that I can decide whether I should continue renting? I bought the house for 175,500 and should be able to sell for 225,000. It is currently renting for 1,400 a month.