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How do we treat the sale of a house we lived in for 2 of the last 5 years, but also rented?
We originally bought the house in 1999 for 128k. We converted it to a rental in August of 2013 with a FMV of $155k. The house sold for $169k in June of 2016. The house was a primary residence just over 2 of the prior 5 years and we have used it as a rental and taken depreciation since putting it into rental service. I have completed the section of "Sale of Business Property", but can't figure out how to get the capital gains exclusion for sale of a primary residence.
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‎June 6, 2019
6:25 AM