Rental to Primary for saving tax on capital gain. I have a rental property rented out for 2 years now. Can I move in the 3rd year and live for 2 years as primary resident, and sell, and do not incur the capital gain tax, because I would have owned for 5 years and lived for 2 years in it?
Is there any paperwork that needs to be done to declare that this is my primary residence in the third year? |