The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: foreclosure Date:  3/6/2014  9:01 PM
Author:  culcha Number:  120389 of 127989

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.

We've been renting that place out for about 10 years now. So aren't I going to have to recapture depreciation?

I know the original basis. And if I get the amount of "excess funds," what else do I need to figure profit/loss?

Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us