After buying a second home for our snowbird lifestyle, we are pondering changing our Primary residence to the new home/state. But don’t want to sell or rent the current primary which we’ve owned for 30 years. Someday we will want to sell it, and will have a substantial gain, which we wouldn’t want to pay capital gains on.
It appears we could have five years with averaging, but not sure that is long enough.
Any thoughts or plan on a way to keep the capital gains exclusion?
It appears we could have five years with averaging, but not sure that is long enough.
Any thoughts or plan on a way to keep the capital gains exclusion?