All Forum Posts by: Eric Doe

@Ryan Thomson yes we lived in the house for over 2 years

@Michael Lynch I was under the impression of a house hack being a single family as well as a multi. Just read the term and seen it just applies to multi family. Long story short, we lived in this single family property for more then 2 year, as we lived in it we renovated it, gained equity then sold.

@Nicholas Aiola we recently closed on a house that we lived in for more than 2 years. We gained equity while living in the house and sold for a profit. Now we are wondering about how much money we should set aside for taxes? We are going going to get a cpa soon but right know we are just trying to get a general idea on how much money to save.

@Basit Siddiqi it was my primary residence for over 2 years. Would this mean I could possibly be expept?

@Ashish Acharya we definitely will do that.

@Dave Spooner awesome! Thank you

@Dave Spooner yes we lived in the house for over 2 years and recently just closed on it.

@Dave Spooner yes exactly. We did a house hack, sold it and received our profit.

@Dave Spooner we definitely will get a cpa. I was just trying to get maybe a quick rule of thumb since we are looking at purchasing another house very soon.

We successfully flipped a house and had it for 2 years. How do we determine how much money to put aside for taxes?