r/tax•
maijazi

Capital Gain Tax on Primary Residence Converted into a Rental Property

We purchased a single-family home in 2003 for $430,000 and used it as our primary residence until 2016. At that time, we had to relocate out of state and converted the property into a rental. In 2023, we sold the house, realizing a capital gain of approximately $377,000. How will this capital gain be taxed?

Posted Aug 7, 2025, 4:42 PM UTC

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