Answers by Uriel Resendiz

Hey Kylie, Since you’ve owned the home for about five years but only lived in it for one, you don’t currently meet the IRS two-out-of-five-year residency requirement for the full $250k primary residence capital gains exclusion. Although, if you're looking for a strategy specifically designed to defer capital gains taxes on a second home or highly appreciated asset, you might want to look into a 453 Deferred Sales Trust (DST). (Note: A 453 DST is different from a Delaware Statutory Trust, which is used for 1031 exchanges). Disclaimer: I am a real estate professional, not a licensed CPA, tax advisor, or attorney.