Sold prmiary residence last year and moved into vacant rental property that wasnt rented for over a year. Do we have to pay capital gains?
Owned a home and a rental property. Rental propery was vacant for a year. Sold our primary residence and moved into rental property. Do we have to pay capital gains on the sale of our primary residence?
Sold prmiary residence last year and moved into vacant rental property that wasnt rented for over a year. Do we have to pay capital gains?
No. As long as the property was your principal residence the whole time that you owned it and you never rented any part of it out, then you won't have any capital gains/losses.
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