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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: of 121572  
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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