I purchased a condo on 9/29/09 for $156,900 and used it as my primary residence until I moved out and converted it to rental property on 7/25/14. I used a FMV of $156,900 on the date it was converted to rental property and rented it out at fair market value until I sold it on 5/23/16. I took depreciation of $2,616 in 2014, $5,705 in 2015, and $2,140 in 2016. I sold this property for $152,000 on 5/23/16. I met the test of having used the property as my primary residence for at least 2 of the past 5 years. Do I have a taxable gain on the sale of my condo and how much?
