Capital Gains On Primary Residence 2025. In this case, it had not been turned into a rental, so there is no need to prorate. You probably won't take a big capital gains tax hit if you sell your primary residence.
What if you convert a vacation home to your primary residence, live there for at least two years, and then sell it? If you have gain that canโt be excluded, you must generally report it on form 8949, sales and other dispositions of capital assets, and schedule d (form 1040), capital gains and losses.
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