We are considering selling our home (primary residence) that has a room we rented to our son.
The question is where do we report the sale of our house and how do we handle the depreciation recapture tax for my son's room?
We have been reporting my son's room rental as income.
I know we will not have to pay capital gains tax because we have live in our home for the last 2 years and it is worth about $250,000.00.
