Hi Guys,

what are the tax implications of owning a property that you once lived in for a brief time but now have rented out. Owned property for 10 yrs 1st year lived in, rented out since.

The property was the only one under your name.

As this was the only property i owned would this be classified as my primary residence? Even though i could not live there (say i couldnt afford to do so) and thus had to rent the property out.

Any help appreciated.

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