Deductions & credits


@angeliagblin wrote:

Can Turbo tax handle these calculations of apportioning the gains?


You would not qualify for any "apportionment" of the gains" (i.e., applying the exclusion to part of your gain) if you did not (or do not) move back into the property during the past five years prior to the property being sold (the last use of your property was rental use).

 

In fact, you should have been taking depreciation deductions on the property during the rental period along with reporting the income and expenses from the rental. If you have not, that is another problem which will require the intervention of a tax professional.