real-estate
Selling a college house
<p>Let's say a father buys a moderately decent house for his daughter to live in for college. 4 years later he sells for a profit. Would capital gains taxes come into play given that the house is his daughters primary residence, but not his?</p>

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<p>Would capital gains taxes come into play given that the house is his daughters primary residence, but not his?</p>
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<p>Yes. He sold something that was his property, i.e., his [long term] asset. The fact that it was not his primary residence is irrelevant in this regard.</p>
<p>The issue of primary vs. non-primary residence might be relevant only for purposes of computing the applicable credits and/or deductions, but that is very jurisdiction-specific.</p>
