It appears that you do not qualify for the "2 of last 5" capital gains tax exemption for 2 reasons.
I lived there for 1yr 10 months then rented it out for a few years.
You did not live in the property as your primary residence for at least 2 years (730 days) of the last 5 years (1826 days) that you owned it. So unless you have mitigating circumstances, any realized gain is fully taxable.
bought it for $290K and selling for roughly $385K.
So you have roughly a $95K gain on the property. Add to that the depreciation recapture and that gives you "ROUGHLY" the total you will be taxed on. Add that total to all "other income" to get an idea of what tax bracket you're in.
How will my capital gains be taxed?
That's a loaded question, as it depends on all of your other sources of income as well as any tax credits you may or may not qualify for.
Just be aware that your recaptured depreciation will be taxed anywhere from 0% to a maximum of 25%. So even if you end up in a tax bracket higher than 25%, the recaptured depreciation is not taxed at more than 25%. However, with only 5 years of depreciation, I would not expect it to make that much of a difference overall. But still, every little bit helps.
The best thing to do is to create a mock tax return "as if" you sold the property in 2020. That will give you somewhat of an idea. If you used the online version of TurboTax to complete your 2020 return, then create an entirely new online account for the mock return. *DO* *NOT* *UNDER* *ANY* *CIRCUMSTANCES* use the same account to create a mock return. If you do, you will permanently overwrite your filed 2020 tax return and will never be able to recover it. That means you will most likely have issues with your 2021 tax return since you would not be able to import the correct information from your 2020 tax return.
