Revere
Level 3

Good evening,

Need guidance.  I have a client (married) that sold his primary residence/rental.  He has a multi family property. He lives on first floor and rent 2nd floor.  After all expenses, they made a profit of $500,0000.  How do I report sale of his primary residence and of the 2nd floor.  Do they qualify for the home sale exclusion?  Do I use sale of home worksheet and sale of business property? Please help.  

Thank you

 

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