This is fantastic. One follow up question. I've rented this property for the last two years. Prior to that I lived there over a decade. I'm hoping to sell before next year to take advantage of the up to $500K cap gains exclusion for primary residences. With property taxes in TX so high, there is a good chance I will show a rental loss on paper the year I go to sell the home.
If I just enter everything in Turbo Tax, will it be able to sort this out? I'm not sure if those losses will affect the cost basis of my house or how that will work. I know I'll need to recapture 2 years of depreciation as well. I'm just wondering if Turbotax can handle this situation.
