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Reply to "Sell it or rent it out?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Another to consider is capital gains tax. You will not have to pay this on up to $500K (if married) if you sell your primary residence before moving into another one, but if you will if you sell it as a rental down the road. There may be some exemptions you can apply here, not sure.[/quote] As long as you have lived in the house for 2 out of the last 5 years, you won't have to pay capital gains on the home sale. [/quote] I think PP's point was that if I rent the house out for 10 years and then sell it, I'll have to pay cap gains if it's over $500k.[/quote]
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