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Get your taxes done using TurboTax
There are a lot of issues.
One primary issue would be the home sale exclusion (one or both of the properties).
See https://www.irs.gov/publications/p523#en_US_2022_publink100073574
Another would be depreciation recapture if you sell.
See https://www.irs.gov/publications/p523#en_US_2022_publink100077085
You should really seek guidance from a local tax professional for this matter.
‎December 5, 2023
10:10 AM