Question
Sale of home that was used as a rental property but sellers meet the 2 of 5 year exclusion
When i enter the sale of a home I'm not getting the $500,000 (MFJ) exclusion and it's showing a capital gains tax. here are the details:
Home acquired: 1/6/16
Home sold: 08/15/24
Rented from 6/23 to 8/24 but otherwise it was the sellers' primary residence.
shouldn't proconnect take all the prior numbers (depreciation etc) and calculate that and the $500,00 exclusion?
Any help is much appreciated - it's driving me crazy!
Janet
