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State tax filing
can't answer all your questions but for federal assuming you lived and owned it for any 2 out of 5 years before sale the $500K exclusion only comes into play after section 1250 depreciation recapture for depreciation allowed or allowable while it was a rental. so you will at least owe tax on the depreciation which can be as high as 29% if you are subject to the net income investment tax.
‎June 17, 2024
12:08 PM