• LinkedIn
  • YouTube
  • Twitter
  • Facebook
  • Google+

No reduction on gain exclusion for temporary rental

by on
in Small Business Tax

Q. We’re renting out our principal residence as we try to sell it. Will this reduce the home sale gain exclusion? T.C.B., Concord, N.H.

Probably not. Under the home sale gain exclusion rules, you can rent a former principal residence for up to three years before becoming ineligible for the exclusion (this assumes you used the home as your principal residence for at least two years out of the five-year period ending on the date when you finally sell the property). 

Like what you've read? ...Republish it and share great business tips!

Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...

We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.

The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.

" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/20765/no-reduction-on-gain-exclusion-for-temporary-rental "

Related Articles...

    No matches

Leave a Comment