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markk
Tax Payer
Posts: 1
(3/23/03 8:00 pm)


 Capital Gains on sale of duplex
I am selling my duplex that I have had for three years three months. I have lived in one side for 6 months then moved into the other for thre remaing time. I have not rented either of the units as it was a fixer upper, nor have I made any deductions other than intrest on the mortgage. When I sell the house will I be able to have tax free capital gains on just one the sides I lived in over two years or both because I did not rent it out nor deduct anyting. The house is one parcel number but on the title is say the address is 100 pebble A&B. Any thoughts or comments would be appreciated!!!

Thanks Mark

bmcper 
CEO/Auditor
Posts: 242
(3/24/03 6:11 pm)


 Re: Capital Gains on sale of duplex
Personally, I would treat it as a private residence sale since there wasn't any income derived from this property and you have met the two year rule.

Bernadette's Corner, Too!

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