inquisitive
Recycles dryer sheets
- Joined
- Apr 7, 2008
- Messages
- 223
Can anyone explain how the $250,000 rule works for a mixed use property? I am currently living in a single use property and renting out 2/3 rooms. Based on surface area I could actually say I am renting out 90% of it. If I use the latter, when I sell it can I take 10% of the profit and not pay taxes on this portion up to $250,000?