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Investors & landlords
Thank you for answering my question and your expertise, it was very helpful. I wanted to add 2 more questions: Does the IRS consider the fact that I had to move away from the primary residence for out of state work, which led me to rent out the home long-term? I read in an IRS instruction booklet that this might make me eligible for the $250,000 exclusion on gains, but it was unclear. Also, what if the rental operated at break-even or even a loss in some of those years it was rented? Does it matter? Thanks again.
‎April 9, 2022
11:19 AM