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Hello . Hoping maybe you can answer a question for me or point me to someone who can. Simply... I own 2 houses. House number one I lived in for about 6 years. I built a new house a bout 3 years ago, which I live in most of the time. My plan was to sell my first house after I built and moved into the new house(#2). The prices fell and have not had any luck selling it for what I need to. It has sat empty for quite a while as I hoped the market would get better. I have been doing some minor upgrades, and do stay there sometimes, but what I am worried about now is will I have to pay capital gains on it if I sell it now? I can not find a simple answer? Should I move back into it permamnetly til it sells so it is my primary residence? Or can it still be considered my primary residence? Can I or should I claim the hoeowners grant for the one I want to sell? I do not want to break any rules, but dont think I should have to pay capital gains on what should still be my primary residence. It iis not my fault the market dropped and I could not sell it for what I need to as quickly as I hoped? Any suggestions? Thank you Bryon | |||||
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