Hello
Currently selling our main residence (www.LivingInWalnutGrove.com). We`ve lived in this residence for approx. 22 months and have recently purchased a new home in the same area.
If we do not sell our current home prior to taking possession of the new home, is their a chance that we will be chared Capital Gains tax when we do finally sell?
As a backup plan to holding 2 mortgages, I am looking at renting our current home on a month-to-month basis until it is sold, but will this cause tax issues?
Thanks,
Currently selling our main residence (www.LivingInWalnutGrove.com). We`ve lived in this residence for approx. 22 months and have recently purchased a new home in the same area.
If we do not sell our current home prior to taking possession of the new home, is their a chance that we will be chared Capital Gains tax when we do finally sell?
As a backup plan to holding 2 mortgages, I am looking at renting our current home on a month-to-month basis until it is sold, but will this cause tax issues?
Thanks,