Sold our house that had been rental for some. demolished and rebuilt but we are penalized for profit after declaring principal residence?

Broadman · ‎February 27, 2023

had appraisal done when it became principal residence. Does this help?

TurboTaxSusan · ‎March 17, 2023

If your property was not your principal residence the entire time you owned it, then you will have to pay capital gains tax for the time it wasn't your principal residence.

Sold our house that had been rental for some. demolished and rebuilt but we are penalized for profit after declaring principal residence?

Investors and rental owners