Capital gains in a lived in and rented out duplex
Looking to sell my property . The part that's confusing is I never changed my address to this property and lived elsewhere that I didn't own . CCA NOT CLAIMED. how do I prove I moved in ?
Yeat 1 of the year i purchased the property i lived in the main floor for the 5 months of the year and rented out the basement for 2 months of the remaining of the year .
Year 2 rented out the top floor for 10 months and basment for the while year
Year 3 /current top floor rented out. Tenants moved out and I am looking to move into basement for the time being till I sell it .
My question is this is the only house I own do i have to pay capital gains . In my taxes i claimed expenses like utilities, mortgage interest and repairs for the time it wasn't occupied by me...
Yeat 1 of the year i purchased the property i lived in the main floor for the 5 months of the year and rented out the basement for 2 months of the remaining of the year .
Year 2 rented out the top floor for 10 months and basment for the while year
Year 3 /current top floor rented out. Tenants moved out and I am looking to move into basement for the time being till I sell it .
My question is this is the only house I own do i have to pay capital gains . In my taxes i claimed expenses like utilities, mortgage interest and repairs for the time it wasn't occupied by me...
Last edited by wantboost1 on May 19th, 2020 7:52 pm, edited 1 time in total.