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Updated over 5 years ago on . Most recent reply presented by

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11
Posts
1
Votes
Karan Jhavar
  • Rental Property Investor
  • Milpitas, CA
1
Votes |
11
Posts

Tax advice: Primary -> Rental -> Primary

Karan Jhavar
  • Rental Property Investor
  • Milpitas, CA
Posted

I purchased a condo as primary residence, converted it into rental and now would like to make it my primary residence again for 2 years. Would I be able to claim the gain (minus depreciation), tax free?

2012 - Purchased primary residence in CA

2014 - Converted into rental

2020 - Convert to primary residence again

2022 - Sell primary home and claim tax free gain (500K for married couple)

Any help would be appreciated. Thanks

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