Investors & landlords

you had nonqualifying use during the first time it was rented 8/2011-8/2020 (the second rental period is ignored since it's after you used it as your personal residence) IRC 121(b)(5)

 

your ownership was 8/2011 - 3/2024

so your nonexludable gain is period of nonqualifying use divided period of ownership times your exclusion amount or gain whichever is smaller

 

your actual gain is 

sales price - selling expenses - cost of property reduced by depreciation allowed or allowable

so it would seem your actual gain is more than the $100K (when depreciation taken is considered). however, depreciation does not seem correct. you rented it for about 9.5 years. the depreciable life is 27.5 years (NON-foreign property) 30K/9.5 is about $3.2K per year which means depreciable basis would be about $80K+ making land about $220K-. if I'm correct run to a tax pro because the IRS requires you to compute gain using the larger of allowed (your $30k apparently) or allowable amount and it seems the allowable amount is larger than what you took. 

 

excludable gain would be the total gain less the nonexcludable gain

 

selling the property should release all the suspended losses. However, since there was rental use followed by personal use followed by rental use, I don't know if the sale can be properly handled through schedule E - rental worksheet