I live in California. My husband and I had a trust and when he passed away in October 2017 his half of our condo went into an exemption trust for his two children from a previous marriage. We bought at $150,000.00 and it is currently worth approximately $650,000.00. As things stand, I still only own one-half of the condo. I would like to stay in our condo for another 3-4 years, if possible.
Do I have to sell our condo to avoid capital gains tax, and if so what is the timeframe in which I would have to sell, or will there be capital gains no matter when I sell?