Selling rental to primary house

[gil-danila]

My wife and I bought a house in 1996 and live until 2003. In 2004 we and 5 children moved out and rented  out up to 2014.  In 2015 wife and I  moved back and we are retiring in 2017. We plan to sell.  What  will be our  taxes  taxes?  I heard   capital gains, recapture , etc .  I m not  sure  if  gains  will be considerd as income when we retire.
thank you

[TaxGuyBill]

If it is sold at a 'gain', yes you will have taxable income.

Without A LOT more information, nobody can tell you how much in taxes you would owe.  Just enter the information into TurboTax, and it will do the calculations.  Be SURE to read the screens in the Sale of Home section REALLY carefully, as they can be confusing or misread.

[SweetieJean]

See OP's related Q:
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/3402458-increasig-cost-basis-but-lost-receipts">https://ttlc.intui...>

[SweetieJean]

Are you selling in 2016, or 2017?  The tax laew is likely to change for 2017.