ejdtaxman
Level 7
09-09-2024
03:01 PM
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Details:
Bought and placed into service 2017. 50% rental 50% personal residence for duration.
Lived there with spouse until 2019 when they divorced and she bought him out.
Sold March 2023.
I have attempted to link the sale to the home sale worksheet but I get the error that this is not possible for homes with less than 100% business use. I called support and was told (after much troubleshooting) that I will have to just turn error checking off and hopefully the IRS accepts it. This doesn't seem adequate to me so my question is, how do I calculate the exclusion (even if it only amounts to $125k since 50% business use) while still reporting the sale of the business property?
Best Answer Click here
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