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Investors & landlords
Don't report it as the sale of a rental. Report it as the sale of your main home. You will get the full exclusion (not 2/5) if it was you home for 2+ of the last 5 years. Rental time after being your residence does not count against you. But you will have to enter (pay tax on) the depreciation recapture.
March 23, 2021
9:42 AM