Get your taxes done using TurboTax

You might want to consider using a tax professional for your return preparation for the 2022 tax year as you have a somewhat complex tax scenario.

 

See https://taxexperts.naea.org/listing/service/individual-tax-preparation

 

You cannot take advantage of the home sale exclusion since you have not used the home as your main residence for two out of the last five years leading up to the sale, you have a depreciation recapture issue as a result of having rented the home, and your basis will have changed each time you removed the home from service as a rental and then placed the home back into service. 

 

You would typically have a carryover basis initially, but you really should consult with a local tax professional.

View solution in original post