I was renting a house for about 20 years.If I move back in how many years I have to live there in order to sell it as a owner occupied?

Asked by inna0223, Daly City, CA Sun Mar 3, 2013

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Robert McGui…, Agent, Denver, CO
Sat Mar 9, 2013
inna0223,

My understanding is that you will need to live there 2 out of the last five years when you sell to avoid capital gains taxes. But with your own personal situation it will be good to consult with your accountant for the best advice on how to move forward.

Robert McGuire ASR
Realtor/Consultant
Your Castle Real Estate
Direct - 303-669-1246
http://about.me/robertmcguire33
0 votes
My NC Homes…, Agent, Chapel Hill, NC
Mon Mar 4, 2013
2 years to avoid capitol gains taxes.
0 votes
Russ Ravary, Agent, Commerce Township, MI
Mon Mar 4, 2013
I believe the answer is 3. 3 out of the last five years so you do not have the tax consequences. But you will still have the tax consequences of the depreciation you took.
0 votes
Lynelle Clau…, Agent, Aurora, CO
Sun Mar 3, 2013
If you are looking to avoid capital gain taxes, you would need to live in the property 2 of the last 5 years, so 2 years. If you live in the property you are an owner occupied. If you have any more questions or would like a market analysis on the property just email me and I would be more than glad to assist you in your needs. Lynelle Clausen
0 votes
Lynelle Clau…, Agent, Aurora, CO
Sun Mar 3, 2013
In the last 5 year you must live in it for 2 years. ( I assume you are asking that to avoid capital gain taxes?) If you want to sell it and you are living in it then you are an owner occuppied. Let me know if I can assist you any other real estate questions? Would you like a market analysis on your home? You can contact me by my email. Thank you and good luck. Lynelle Clausen
0 votes
Kristen Ward, Agent, Aurora, CO
Sun Mar 3, 2013
Two of the last five years to avoid capital gains tax.
0 votes
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