Question
How to Enter Property Eligible for the Home Sale Exclusion
Taxpayer is eligible for the home sale exclusion, but does indeed have depreciation associated with the property, therefore the depreciation needs to be added back as ordinary income.
What are the steps to ensure the gain is fully reported, excluded, transferred to the correct form (8949), and the depreciation is added back properly?
I believe it is all driven off of Sch. D, under the details section, but wanted to confirm.
