Dormouse
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RE: Capital Gains on rental property I have lived in as main home
In addition to my above question - an old asbestos garage was removed at the property and a new detached garage was built in its place. Is the replacement garage considered an improvement?And can the cost of the garage be set against Capital Gains? Thank you. -
Capital Gains on rental property I have lived in as main home
Hi, I bought a property in my name in 1998. It was my main home until 2013. I got married and bought another house with my wife (joint ownership) - the new house became my main residence and I rented out the property I bought in 1998. It has been rented out for 12 years. If I were to sell the rental property, could I claim full Private Residence Relief (PRR) on the time it was my main home? Therefore only pay capital gains on the time the property was rented out? Thank you