LMNP vs LMP and capital gains (plus value)
I currently declare annual gross revenue on three apartments that are rented out as holiday lets under LMNP.
I am considering switching to LMP from 1 January 2022 (or 1 January 2023 if necessary).
I have a question regarding capital gains (plus value) on the sale of any one of these properties.
If I decide to sell one of the properties, I believe I am exonerated completely from paying plus value if I am declaring under LMP and with these two conditions:
1) have rented out the property for at least five years and,
2) the average gross rental income for the two years preceding the sale is not more than 90000€.
(This is the page I am looking at (see bottom of the page): https://www.impots.gouv.fr/particulier/les-regimes-dimposition
“Les plus-values des loueurs professionnels bénéficient, à condition que l’activité soit exercée depuis au moins cinq ans, d’une exonération totale lorsque la moyenne des recettes tirées de la location au titre des exercices clos au cours des deux années civiles qui précèdent la date de clôture de l’exercice de réalisation de la plus-value n’excède pas le seuil de 90 000 € HT et d’une exonération partielle si ces mêmes recettes sont comprises entre 90 000 € HT et 126 000 € HT (art 151 septies du CGI).”)
My questions are:
1) If I have been under LMNP for more than five years but LMP for less than five years, will the exoneration therefore not be available?
2) Is the 90000€ rental income based on two years total or the average annual income per year (e.g. 90000€ per year)?
3) Are the above conditions specific to the property that is being sold i.e. the property in question must have been let out for five years minimum, and not had gross rental income of 90000€ in the two years prior to selling? ( I ask this because I have been in this LMNP activity for six years but maybe not for the property I may like to sell).
Thank you!