Q1: I would like to sell a rental house but don't want to pay capital gains tax on the sale. I read about a tax-deferred exchange and it sounds like a good idea, however I want to move into the replacement property as soon as possible after the exchange. Any guidelines as to how long the replacement has to be rented before converting into a primary residence? Any chance renting out the lower level of the replacement property for a year might qualify?Q2: Are there any other ways to get out of a rental without incurring capital gains taxes?Q3: Are there any rules about depreciation recapture that may apply to converting a rental house into a primary residence? Q4: Once a rental property is converted into a primary residence, and the owner meets the 2 year residency rule, can it be sold without tax on capital gains under $250000 just like any primary residence?Please help with my headache!
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