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Author: Nathar Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121106  
Subject: Sale of Home Cap Gain Exclusion Date: 3/5/2001 9:00 AM
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We live in a duplex home where we live in one half and rent out the other half. If we live 2 1/2 years in one side, and 2 1/2 years in the other side, and then sell both, can we exclude the capital gain on both sides of the duplex?

What if we convert the duplex to condos, live in one side for 2 1/2 years and then sell it. Then, move to the other side and sell it 2 1/2 years later, can we exclude the capital gain from both sales?
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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47692 of 121106
Subject: Re: Sale of Home Cap Gain Exclusion Date: 3/5/2001 10:50 AM
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We live in a duplex home where we live in one half and rent out the other half. If we live 2 1/2 years in one side, and 2 1/2 years in the other side, and then sell both, can we exclude the capital gain on both sides of the duplex?

I don't think so. You can only use the exclusion for one sale every 2 years, and this looks like two sales to me, even though it's one piece of real estate.

What if we convert the duplex to condos, live in one side for 2 1/2 years and then sell it. Then, move to the other side and sell it 2 1/2 years later, can we exclude the capital gain from both sales?

This should work. Actually, I don't see why you couldn't convert it and sell the part you've been living in immediately, then move into the previous rental and wait out your 2 years.

Phil Marti
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