Greetings,
Four years ago we purchased a second home for my mom to live in. It was rented to her below fair market value, therefore we never claimed rent or depreciation since we've owned it. She is now disabled and we need to move her close to our primary residence. She will be renting - we are not planning to purchase her another property at this time - as we are unsure of her health. Are there any exclusions to help reduce capital gains on the sale of the home in this case? The funds will be used to help care for her going forward. Thank you in advance for any feedback.
