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Level 3
posted Mar 19, 2025 4:36:26 PM

Homeowner exemption of $250k gain with renting out part of home

Does TurboTax support/figure out homeowner exemption of $250k gain when selling home when I have been renting out part of home and taking depreciations etc.?

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1 Best answer
Expert Alumni
Mar 19, 2025 4:44:23 PM

Yes.   When you enter the details of the sale, TurboTax will ask about prior depreciation and will take that into account when figuring your tax.  

1 Replies
Expert Alumni
Mar 19, 2025 4:44:23 PM

Yes.   When you enter the details of the sale, TurboTax will ask about prior depreciation and will take that into account when figuring your tax.