Updated over 4 years ago on . Most recent reply
Selling long hold rental for profit
Purchased this house in 2012. Lived in it till 2019. Rented the house out for one year. If I sell the home I'm looking at 60,000 + in pocket. I want to sell the property and buy cheaper rentals no finance. Since I lived in the home for more than five years can I avoid being taxed if I use the profit to purchase rentals with cash?
Purchase price 97500
Listing price 170000