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Investors & landlords
The rule says that you must have used your home as your primary home for 2 out of 5 years prior to the date of sale. It doesn't matter that it was converted to rental at the time of the sale. It is both. The rental time period has to have the depreciation recaptured. The personal home portion may be entitled to the exclusion. All the qualifications must be met.
‎February 8, 2023
8:47 AM