Selling Second Property Hello.
I currently own a primary residence and a second home. The second home is being used by my mother-in-law and thus there is no rental income.
I am in the process of looking to sell both properties in order to purchase one larger primary residence. I understand that I won't pay capital gains tax on my primary residence due to the exceptions that are allowable. However, I am wondering if there is any way that I can avoid paying capital gains tax on the second home?
Thank you for your time. |