Question

Sale of rental

Forum|Forum|4 years ago
March 29, 2022
1 reply
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I sold my rental house in December of 2021. I lived in it until September of 2018. Do I qualify for the capital gains exclusion? How and where do I enter the sales price and expenses?

V

Vanessa A

Possibly. If you lived in the house for at least 2 out of the last 5 years, then the home qualifies for the home sale exclusion. You also can only take the exclusion once every two years, so if you recently used the exclusion, you would not be eligible to claim it again.

See this link on how to report the sale of your rental and claim the home sale exclusion. The biggest thing to watch for is that you will need to say yes to the sale of main home when asked.

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