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Investors & landlords
when part of the home used for rental is within the same dwelling unit as the residential part of the home. you treat the entire home as a principal residence for the home sale exclusion rules. however, you must recognize gain (section 1250) to the extent of depreciation allowed or allowable (what you should have taken). if you didn't take depreciation, see a pro to help resolve this tax issue.
‎July 9, 2021
11:46 AM
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