I have followed the steps for a sale of a rental that qualifies for home sale exclusion however it is still showing as a long-term capital gain on the Schedule D. Is this correct? I thought if it qualified for the home exclusion then none of the gain should roll through the tax return.
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Depreciation recapture?
"....No depreciation taken for the rental"
Oops. You need to look into "allowed or allowable" and/or Form 3115 then.
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