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Need To Sell My House, Avoid Capital Gains

unomateo profile photo
  • Wednesday, May 19, 2004 @ 12:52 AM EDT
  • 2 Comments

HI,

I own a house that I am going to sell in 6 months at the 2 year point. I need to move now, but do not want to sell because of the big capital gain hit.

Is it possible to lease it with an option to buy but keep my name on it as my primary residence for another 6 months? I will also be moving into an apartment far away. Is it possible to rent an apartment and live in it without it being my primary residence as to keep the house as my primary residence.

Thanks

Comments(2)

  • no photo
    myfrogger18th May, 2004

    You may find the article I wrote informational:

    http://www.thecreativeinvestor.com/modules.php?name=News&file=article&articleid=415

    If you still have questions feel free to ask.

  • no photo
    unomateo19th May, 2004

    Great article and great stream.

    OK, now where do I find a good CPA that understands all the loopholes? I have talked to CPA's, REA's, and they both have told me I was stuck in the house or pay big taxes. I need to find one that specializes in this?
    After listening to the stream I have tons of questions, but mainly how to get set up to move and get everything in order so I do not get burned.

    Thanks

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