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Divorce tax/capital gains question
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I am recently divorced. My ex got our primary residence. I got our multi family investment property in another town. I now live in the multi family and have for ten months as my primary and only residence. I want to sell the multi and put all the proceeds in a primary residence in the town my children live in to be close to them. Can I do that without paying capital gains? I really don't want to be stuck in the multi for a total of 2 years to avoid capital gains. My kids are finishing 7th grade and really want to be in the same town as them. If I have to pay capital gains I won't be able to buy in that town right now because of the cost.

Thank you!

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Posted
5 months ago