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Investors & landlords
If during the 5 year period before the date of sale, you used the home as your main home, then yes, you qualify for a partial exclusion. You will only get a partial exclusion for the length of time it was your primary residence.
If the last usage was rental, then record the sale in the rental portion of the program. If the last usage was personal, include it under Sale of Main Home, but be sure to include the depreciation so it can be recaptured.
March 3, 2021
10:04 AM