Friday, August 05, 2005

Should Your Home Become An Investment Property?

Q. Hello there! I appreciated reading your info on the web.
And you graciously offered to answer questions. Here is mine.

If I move out of my house and rent it out for 2 years, can I then exchange it for another home?

How long would that second home have to be "investment" property before I could occupy it?

A. I'm not sure why you would want your home to be classified as an investment property instead of a primary residence.

If at all possible you want to sell the home while it meets the requirements of being a primary residence so that you are not taxed on any of the gain (up to $250,000 per person per lifetime).

Your posted comments on this and other questions are welcome.
If you have a question for Jeff an answer is just a click away.
Find a wealth of information at Jeff's website.

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