My question is: US-specific
QUESTION: I have a three unit property. The only property I own. I live in
one of them and rent the other two out. I claim it as owner occupied, principle place of residence when I bought it.
I now want to sell it. Do I need to pay capital gains tax on the
appreciation. I know that any thing over 4-unit is treated as a commencial
property and if it is just a single unit that is my principle place of
residence, I do not have to pay capital gains tax if it is less than $250k.
Please, help a confused man.
