Dora Dorset
Joined: 11/13/2024
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Capital Gains Selling Nominated Residence to move to Second Home
We bought our 2nd home (House B) in Oct 2020, and then had a house move with our 1st home (House A) in Oct 2022 and lived between the two, for work reasons. In April 2024 we nominated House B as our main residence, as work meant we were there most of the time. Now our circumstances have changed again and we want to get back to having just one property ... Q: If we sold our nominated residence (House B) first and then moved into House A (with no plan for a second property), how and when would we pay the Capital Gains Tax on House A (which was previously nominated as our second home)?