- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
No. also, because you converted your residence to a rental and then back to your residence your home sale exclusion will be limited.
the comp is not exact because full dates weren't provided.
you owned it for about 16 years and rented it for about 3 years.
approx max exclusion = years of qualified use (the years not rented 13 years)
years owned about 16. thus max will be about 13/16*500000
when you enter the home sale data in Turbotax and properly answer the questions, Turbotax will
compute the allowable HSE.
‎January 13, 2024
12:28 PM