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I Need 1031 Advice...

REI-Newbie profile photo
  • Friday, January 28, 2005 @ 11:33 AM EST
  • 1 Comments

I have a client of mine that does real estate investing. his wife lived in one of the investment properties for the first 14 years she owned it. I believe the law in California is that if you lived in the home for longer than 2 years than there are no taxes on the gains. Please help me with:
is there taxes if the owner lived in the properties for at least 2 years prior to renting it out?

Thanks,
REI-Newbie

Comments(1)

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    REI-Newbie28th January, 2005

    Thanks for the help. I will check with my local accountant on it. 8-)

    REI-Newbie

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