Good Afternoon!
I converted my primary home to a rental in January 2021, after living in the property for 20 years. I sold the property in April 2023, and pass the 2 out of 5 year test.
I will sell my current home within the next six months. I have resided here since September 2022.
I realize that I can treat the rental as an asset disposal or as a sale of primary residence in Turbo Tax. However I may wish to pass on any gain on this property and take the sale of primary residence exclusion when I sell my current him (larger gain?). I don't see the option to pass on the gain for the rental property if I use the Schedule E asset disposal method.
In any case, I do wish to use the appropriate tax treatment for my situationm
