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Subject:  Re: Sale of House Date:  3/16/2010  2:59 PM
Author:  TMFPMarti Number:  109623 of 132807

He rented his house from June 2006 through December 2008.

An addendum to Peter's response.

Not all of the gain is excludable, even if it's less than $250,000. There's a recapture of the depreciation allowed or allowable during the rental period. This is taxed as ordinary income with the rate capped at 25%.

See Publication 523, then hire someone to do your 2009 return. It's cheaper than divorce.

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