I am planning to sell my rental property in 2022 and want to understand things i should be considering. I have not lived in this property since 2015 and rented since then.
- How do i calculate the Tax?
- Can Capital gain in this sale balanced with other Capital losses (say if i gain 10k in this property sale substituted with 10k capital loss in stocks?)
- Can I claim the $500k married joint exclusion ( if we are submitting tax return joints and property is on both of us and neither of us lived their since 2015)
- Can i talk to anyone (CPA) in Turbotax in this regard as i probably applying my returns in here?
Appreciate any pointers and IRS links to understand would be great!
