Our son and his family have been living in a townhouse my husband and I have owned since 2007. They bought a home this year and moved, so we sold the townhouse. It was never a rental property, and we never took any type of depreciation or expenses on it. When I file our taxes this year how do I classify the property since it wasn't a rental. Do I classify it as the sale of a "second home"? Also where can I find a list of items that I can deduct from the sale price of the townhouse to help offset capital gains?
