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Is the primary residence exclusion applicable if property was lived in and rented out?

Posted 6 January 2014 under Tax Questions



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I have a property that I have recently sold. I lived in it for 7 years and then rented it out for 3.5 years subsequently. Now that it has been sold, do I qualify for primary residence exclusion on any portion of the capital gain? Is it pro-rata for the years that it was my primary residence, or how would I apportion it?

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TaxTimTaxTim says:
7 January 2014 at 10:08

Yes you pro-rata it for the period lived out of the total period owned.


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