Sale of what "used to be" personal residence

[JFH]

Client purchased personal residence in 1967 and lived in the home until 9 years ago when he remarried (1999) and moved into her home. For 9 years the house just stored the mans furniture and on occasion (as told to me) he would spend the night every so often when he an he new bride had a tiff! Anyway, 2007 he sells the home home used as a storage facility. I think what we have here would be a second home sale and any gain would be treated as a capital gain. Looking for some feedback.

Thanks - JFH

[TAXBILLY]

You are correct.

taxbilly

[Kea]

I think you are exactly correct.

[Pacun]

Capital gain, basis on the house is cost plus improvements.

[Jack from Ohio]

You are right on the mark.

[JFH]

Thanks guy's - I love this place