I sold my home in 2019. I rented it out for the past 2 years. Do I have to report the sale? Does the $250,000 exemption cover me?

posted

Connect with an expert

1 Reply

I sold my home in 2019. I rented it out for the past 2 years. Do I have to report the sale? Does the $250,000 exemption cover me?

Yes, you need to report the sale.

If you qualify for the exclusion, yes, you can take it, but that does NOT cover the deprecation you were eligible to take on home.

Still have questions?