Real Estate

Moving from Principal Residence to Investment Property

  • Last Updated:
  • Feb 14th, 2020 12:20 pm
[OP]
Member
Jul 1, 2008
227 posts
24 upvotes

Moving from Principal Residence to Investment Property

Hello All,

Currently waiting for a pre-construction to be complete mid 2021. Planning to sell current principal residence this spring-summer and to move into Investment property until next year when pre-con is complete. Am I correct to assume that Investment property will then become Principal Residence?

Are there any other tax implications?
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