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You have lived in that house for at least 2 years in the last 5 years. You are eligible for the capital gain exclusion for the sale of your home of $500,000 (married filing jointly or $250,000 (other filing statuses).
As you have rented the house in the last 1.5 years, you have to recapture depreciation allowable during the rental period and pay tax on it at the rate of 25%.
To report the sale of your home, follow these steps:
Edited 01.29.18 | 9:50 PM
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