Quote Originally Posted by BigDee View Post
So if I own a property for lets say 10 years and I lived in said property for the first 3 years of my 10 year ownership am I responsible for paying capital gains and the Obama tax?

I thought that so long as we owned and used the property for more than 2 years we would not have to capital gains tax when we sell it.
I would confirm with a practicing accountant, as my degree is about 20 years out of date, but given the circumstances as stated, I'd say that this house does not qualify as your main residence. There are exceptions in the link I provided further down the page.