Comments on: New Rules for Capital Gains Taxation of Second Homes http://gotoretirement.com/2008/12/new-rules-for-capital-gains-taxation-of-second-homes/ A Baby Boomer's Journey from Retirement Planning to Retirement Living Tue, 16 Mar 2010 17:58:44 +0000 http://wordpress.org/?v=2.9 hourly 1 By: Amy http://gotoretirement.com/2008/12/new-rules-for-capital-gains-taxation-of-second-homes/comment-page-1/#comment-1124 Amy Tue, 02 Jun 2009 19:19:58 +0000 http://gotoretirement.com/?p=480#comment-1124 We lived in the house for 11 years and we are moving to a new house and planning to rent the old house. If I rent for 4 years and then sell it. How much capital gain exemption can I get? How long can I rent to get some exemption ? We lived in the house for 11 years and we are moving to a new house and planning to rent the old house. If I rent for 4 years and then sell it. How much capital gain exemption can I get? How long can I rent to get some exemption ?

]]> By: Mr. GoTo http://gotoretirement.com/2008/12/new-rules-for-capital-gains-taxation-of-second-homes/comment-page-1/#comment-133 Mr. GoTo Thu, 01 Jan 2009 00:22:25 +0000 http://gotoretirement.com/?p=480#comment-133 Retired Std: I like your plan and hope that it works out the way you have prepared it. I also hope that the IRS doesn't change the rules again. Keep us posted on how things proceed. Retired Std: I like your plan and hope that it works out the way you have prepared it. I also hope that the IRS doesn’t change the rules again. Keep us posted on how things proceed.

]]> By: Retired Syd http://gotoretirement.com/2008/12/new-rules-for-capital-gains-taxation-of-second-homes/comment-page-1/#comment-115 Retired Syd Sat, 27 Dec 2008 06:58:04 +0000 http://gotoretirement.com/?p=480#comment-115 This is indeed a topic near and dear to my heart. We have a vacation home that we are converting to a principal residence--we moved there in March of 2008. My plan is to sell it some day (later than March of 2010) after we have lived there for 2 years. (Probably more like 3 to 5 to wait for the market to stabilize.) Then we will move back to our old principal residence, the house we expect to die in (therefore don't really need the exclusion there.) In any case, we will live there so long that the ratio will have such a large denominator that we don't lose that much if we eventually sell it. This is indeed a topic near and dear to my heart. We have a vacation home that we are converting to a principal residence–we moved there in March of 2008. My plan is to sell it some day (later than March of 2010) after we have lived there for 2 years. (Probably more like 3 to 5 to wait for the market to stabilize.)

Then we will move back to our old principal residence, the house we expect to die in (therefore don’t really need the exclusion there.) In any case, we will live there so long that the ratio will have such a large denominator that we don’t lose that much if we eventually sell it.

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