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Landlord's Two-Year Move-In Plan Shields $400,000 Gain From IRS

Original: She'll Move Into the Condo She's Rented Out for Years, Live There Two Years, and Sell It for $400,000 More Than She Paid. Those Two Years Will Keep Part of That Gain Away From the IRS for Good

A longtime condo landlord plans to move into her rental for two years before selling it for about $400,000 more than she paid. Under the IRS primary-residence exclusion, living in the home as her main residence for two of the last five years would let her exclude up to $250,000 of the capital gain from federal tax, keeping part of the profit tax-free permanently.

Why now: The capital-gains tax exclusion for converting a rental into a primary residence is a widely discussed money-saving strategy.

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• She'll Move Into the Condo She's Rented Out for Years, Live There Two Years, and Sell It for $400,000 More Than She Paid. Those Two Years Will Keep Part of That Gain Away From the IRS for Good · 24/7 Wall St.

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