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Thanks for all your help. Hopefully we will get to the bottom of this as I am sure I am not the first or last person to have this situation. Another question I have now that I have done some more research is concerning the home sale exclusion when I ultimately sell the home. I plan on staying in this home for at least 7 years if not longer. If I consider this a rental property for those few months during the leaseback, I will be penalized in the future when i go to sell my house and I Will not be able to claim the full 500k home sale exclusion.... I think. This is all new to me. It sounds like you are saying I do not have to classify this as a rental anyway. Hopefully @TaxGuyBill can help!
‎June 3, 2019
10:35 AM
7,195 Views