- May 31, 2012
- Reaction score
Can someone educate me on this. We have a rental property we are looking to sell and buy a new primary residence with. Do I have to pay CGT or can it be waived?
I take it you haven't lived in it 2 of the last 5 years? You would want to do a 1031 exchange and rent the new residence out for a couple years, then move into it to avoid gains.