During the housing market bust that happened around 2007, some existing homeowners opted to rent out their main residence instead of selling it for less money.
Interestingly, the IRS tax code will allow the temporary rental of a principal residence without the homeowner losing the exclusion of their capital gain with some time limit restrictions. You are given a five-year period which ends on the date the home is sold and you must meet these criteria: CONTINUE READING---->
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