If you live in a residence for 5+ years and then r...

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If you live in a residence for 5+ years and then rent it for 6 years do you claim the sale of the residence as revenue property sale or a principal residence sale?

 
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New Member

If you live in a residence for 5+ years and then rent it for 6 years do you claim the sale of the residence as revenue property sale or a principal residence sale?

If you are renting out the property then it can no longer be your principal residence.......

Therefore when you dispose of the rental, you will be selling a revenue property, presumably for a taxable Capital gain.

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