Question
Can home sale exclusion exclude depreciation recapture?
My primary residence was converted to rental property 2 years back and I just sold it. So it meets the eligibility requirements for the home sale exclusion and the capital gain is within the maximum exclusion amount, wondering if able to exclude both the capital gain and the depreciation recapture from taxation if the total is within maximum exclusion amount?
Turbotax shows the 2022 depreciation recapture is taxable but not for prior depreciation. Is this correct?
