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Investors & landlords
@Stockholm Sweden wrote:Note, taxes now owed are $16K vice $30K - had forgotten that I lived in the condo from 2011-2013 after returning from abroad and then July 2013 to present/time of sale in 2020 it was a complete rental (ergo, last time I resided in the condo was July 2013).
After amending the date it changed the amount of taxes owed.
Wait, that seems wrong. Were you out of the country due to military assignments? If not, the time you lived there has NO effect on the results because you did not live there 2-out-of-the-last-5 years. Where are you entering these dates? You may be entering something wrong.
If you WERE out of the house due to military assignments, that is treated completely differently, so let us know if that applies.
March 21, 2021
8:09 AM