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Investors & landlords
Yes I was concerned that the federal and the state both have a larger gain listed than I expected, and it sounds like this should be determined based on the profit, the depreciation, and the sales expenses. (And sadly I was a few months off from being able to use the exclusion- but I'll look into the 'partial exclusion' idea!). My gain is larger than those combined, so I'll go back to those screens again and get some help from a professional.
Thank you both for this info!
March 27, 2022
10:48 AM