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Military family selling rental home that we lived in for less than 2 years. How do I claim partial exemption on capital gains?
Hi,
We purchased our home in Sept, 2015 and then had to rent it out in December of 2016 until July of 2023 due to military orders. We sold the house November, 2023. We are still on active orders in another state.
1) How do we claim partial exemption on capital gains for the time we occupied the home? The prompt asks me to only count time after 2018 towards time lived in home. Why?
2) How do I account for the depreciation recapture?
Thank you!
‎January 30, 2024
9:58 AM