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Deductions & credits
@GSL2457 I assume it was also your home from 10/30/87 to 1/1/09.
The period from 1/1/09 to 11/24/14 was non qualified use.
You meet the 2 out of 5 year requirement, if sold before 12/31/20.
You lived in the home 292* months and had 71 months of non qualified use. ~80% (292 / (292+71) of your gain is excludable, up to $500,000. ~20% and depreciation recapture is taxable.
TurboTax handles this very smoothly. Enter at Home sale, under Less Common Income.
*I'm not sure, but the vacant time prior to sale may also count as qualified use for purposes of the tax calculation (but not for the 2/5 rule)
‎April 12, 2020
12:51 PM