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re: Need Help - House Sale / Capital Gains Question
Posted on 5/21/15 at 8:35 am to Bear Is Dead
Posted on 5/21/15 at 8:35 am to Bear Is Dead
If you depreciate a rental property for 10 years or so, then move into the same property for two years as your primary residence, then sell it, do you owe taxes/$$$ re depreciation?
Kind of random question, but thanks to anyone who can answer.
Kind of random question, but thanks to anyone who can answer.
1
Posted on 5/21/15 at 8:51 am to Solo
quote:
If you depreciate a rental property for 10 years or so, then move into the same property for two years as your primary residence, then sell it, do you owe taxes/$$$ re depreciation?
Depreciation has really nothing to do with cap gains. I just know you are allowed a significant amount of tax free cap gains on your personal residence. Im sure there are a lot of if's on the term "personal residence".
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