I know that in California, if you plan on moving to your rental as your primary residence for 2 years, that you will need to calculate the percentage (number of years you lived there vs. rented) to determine how much you are allowed of the exemption. If you rented for a long time and only lived there 2 years, the percentage of the exemption (I.e 250k/ind or 500k for a couple) would be so small that it wouldn’t be worth moving back. This is what I recalled when I was considering this strategy
Watch out for birds! Great show guys!
I know that in California, if you plan on moving to your rental as your primary residence for 2 years, that you will need to calculate the percentage (number of years you lived there vs. rented) to determine how much you are allowed of the exemption. If you rented for a long time and only lived there 2 years, the percentage of the exemption (I.e 250k/ind or 500k for a couple) would be so small that it wouldn’t be worth moving back. This is what I recalled when I was considering this strategy
I need to transition away from some of my Dividend paying stocks to prevent going over the threshold…😮😢
Ok guys. Josh and Kevin should make shirts for the office with “Mike’s Messy Metaphors!!!”😂
Did someone call David?