We had been living in a house, that we purchased in July 2002, for more than 13 years. We bought another house and moved out by December 2015. We put this house for rent for two and a half (1 1/2) year. We took it back in 2018 and listed it for sale in October 2018. Are we still qualified for residential capital gain exemption?
Yes, because you lived in the property for 2 of the last 5 years. You will, however, have to pay tax on the amount of depreciation you took while it was rented.
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