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I sold a rental property that used to be my primary residence. Can I take the $250,000 exclusion?

I lived in the house from 2011 to 2014 but have rented it since.  Can I use my $250000 exclusion and where on my tax return to I do this?

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3 Replies

I sold a rental property that used to be my primary residence. Can I take the $250,000 exclusion?

You must have lived in the house for two of the five years previous to the sale to claim the exclusion.  If you moved in 2014 and sold it in 2018, that would not have been possible.  In other words, you are not eligible for the exclusion.

neciams
New Member

I sold a rental property that used to be my primary residence. Can I take the $250,000 exclusion?

If I moved into the house in 2014 and lived in it until 2016 and rented it until 2018  why wouldn't that qualify for the exclusions?  

I sold a rental property that used to be my primary residence. Can I take the $250,000 exclusion?

That is not what the original poster said.  In your case, you would qualify for the exclusion as long as you meet the two of five rule and are otherwise eligible.

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