Super helpful! One clarification, the capital gains will be 0 (since the total gains are less than the 500k exemption for a joint return). However I'm trying to see how to get the rough estimate for the depreciation recapture. It's basically the depreciation that's been claimed on the home for the duration it was a rental property. I.e. It's the cumulative depreciation that been taken on the home on the tax returns from the the time it was rented till it was sold. Is my understanding correct? If so, then I should also add the "expected" depreciation that will be claimed for 2024 tax returns (filed in 2025) when calculating my cumulative depreciation recapture amount?
