MA. 2 year limit

[cc270]

What is the name of your state? Massachusetts

My sister and I bought and lived in a single family for 8 years.
We are tearing down the single and building a duplex. Each having a side.

I'm told that if I sell the new home within 2 years of living in the home I'll get hit with capital gains tax.

Does living on the property 8 years count? Or would I have to live in the new house for 2 years to not have to pay capital gains taxes?

Thank you!!MA. 2 year

 

[abezon]

If it's the same property, it would be considered the same home. You don't need to live there another 2 years.