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Financial Planning / Tax Strategies


Subject:  Re: foreclosure Date:  3/6/2014  4:26 PM
Author:  vkg Number:  120387 of 127613

Also -- does it make any difference that the property was once our primary residence?


The principal residence exclusion requires that it was your primary residence for at least 24 months of the 60 months prior to sale.

You don't have enough information to know if you have a recaptured depreciation or even if you have profit or loss.
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