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.
A. 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).
- Small Business Tax Deduction Strategies No matches