RobertB4444
Expert Alumni

Deductions & credits

In the federal return scroll all the way down to 'Less Common Income' and click start next to 'Sale of Home'.

 

Go through the steps listing all the amounts you received in payment for the home and any expenses you had for selling it.

 

The 3rd step will ask when you purchased your home and the adjusted cost basis for the home.  There is a tool right there that says 'Easyguide' which will help you calculate your adjusted cost basis and gives you the opportunity to add in the depreciation that you took for the home office up til 2021.  Click on that and enter all of the information.  

 

That will make sure that you get your primary residence exclusion on gain as well as pay tax on the recaptured depreciation.

 

@tc32 

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