Should something appear under Sale of Home (gain or loss) for sale of a rental?

[shanavt]

Hello,
I am finishing up my tax return and one thing that looks strange is that after going through all the questions, and I believe answering them correctly, I am showing something under "Sale of Home (gain or loss)". I thought this section was just for the sale of a primary residence but it was automatically populated after completing the questions about the sale of my rental property. I did not sell a primary residence and only sold my rental property but the address appears in both places. I am wondering if it should be listed there and if it is effecting anything. I am worried about deleting it because I don't want all the work I did for my rental property to be deleted. Does anyone know if something should be showing there for the sale of a rental property? It looks like the below.

Rental Properties and Royalties (Sch E) Condo that I rent out		-$13,126.00	Edit/Add
Sale of Business Property		$62,547.00	Edit
Sale of Home (gain or loss)		$62,547.00	Edit

[ColeenD3]

In the sale of rental property screens, you will encounter one asking about the property also being your primary home. If during the 5 years prior to the sale, you met the qualifications, you can exclude all or some of those gains. You are still selling a rental property, you are just using the exclusion for the personal part if you qualify. This will not include the depreciation you took when it was a rental.

You won't pay taxes on the first $250,000 (also known as a gain) you make from the sale of your home. If you're Married Filing Jointly, you won't pay taxes on the first $500,000.

That income is excluded as long as:

• You owned the home
• It was your main home for two years or more within the five years leading up to the sale
• You waited at least two years between selling your primary home and excluding your first $250,000 or $500,000 from taxes. In other words, you may buy and sell as many primary homes as you'd like, but you'll only get this tax benefit every two years.

[shanavt]

Thanks Colleen. The rental property I sold had not been a primary residence for me 8 years. So should it still appear in this section?

[ColeenD3]

No, you do not qualify for Sale of Home. It is a strictly rental property. When you encounter the screen, reply in such a way that you will not have the Sale of Home on your return.