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Investors & landlords
That will do you no good. There is no tax advantage to selling a 2nd home. Only the sale of your primary home qualifies for a tax exclusion.
The gain on the sale of a 2nd home is taxable, but a loss is not deductible and the depreciation taken while a rental still must be recaptured (taxed).
It's complicated, but TurboTax can handle it. Even so, you may want to consider professional tax help
May 31, 2019
5:44 PM