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Capital Gain Exclusion: Selling Old Primary Residence Converted into a Rental [Tax Smart Daily 051]

A Short Read


Table Of Contents

    Learn about Section 121 and the $250,000 - $500,000 gain exclusion that you can get from selling your primary home that is converted into a rental.

    Listen in to learn about:
    • Section 121 (Capital Gain Exclusion)
    • $250,000 / $500,000 exclusion from the sale of a primary residence
    • How to qualify for the Capital Gain Exclusion
    • The non-qualified use of a property

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    Hall CPA PLLC, real estate CPAs and advisors, helped me save $37,818 on taxes by recommending and assisting with a cost segregation study. With strategic multifamily rehab and the $2,500 de minimus safe harbor plus cost segregation, taxes on my real estate have been non-existent for a few years (and that includes offsetting large capital gains from the sale of property).

    Mike Dymski - Business Owner