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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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DawnC
Employee Tax Expert

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

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.  

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1 Reply
DawnC
Employee Tax Expert

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

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.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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