No.
Using an example: Cost basis in entire property was $400,000 ($200,000 [50%] allocated to rental based on square footage). Upon conversion in, 2020, you had accumulated $50,000 in depreciation. Let's ignore any cost to covert to single family.* You sell for $700,000 in 2023. You have a $300, 000 long term capital gain (LTCG) PLUS $50,000 depreciation recapture. $150,000 of the LTCG is allocated to the rental half (50%). That $150,000 is further allocated between rental and residence, base on time. 12 years (2008-2020) rental and 3 (2021-2023) years residence. 12/15 = 80%. You have a $120,000 (0.80 x 150,000) taxable LTCG plus a $50,000 taxable section 1250 (depreciation recapture) gain. Net $170,000 taxable gain and $180,000 (150,000 + 30,000) excludable home sale gain (excludable since $180,000 is less than $500,000). Note that none of the gain attributable to rental time is excludable under the $500,000 exclusion limit. Converting it to your home only gets you out of paying tax on a small portion of the gain.
Depending on how much total income you have LTCG are partially taxed at 0%, 15%, 20% and/or 23.8%. Depreciation recapture is taxed at your marginal rate, but not more than 25%. TurboTax is capable of handling this complex calculation. But, you have to carefully enter the info. When the time comes, you should consider having your tax return done professionally.
* I'm not sure how the conversion cost should be handled. Since the cost was incurred after it was a rental, I think it would be allocated all to residence as long as the two year rule was met. If the two year rule isn't met, Conversion cost might have to be allocated to both the residence and rental shares.
