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thanks for the advice. The reason we rented was because we could not sell it for a fair price when I moved to a new job. I did include depreciation in my net gain, but I think I underestimated the amount. We made some improvements to the house while we lived in it and after we started renting. I deducted this amount from the proceeds of the sale.

I thought you had to live in a house 2 out of the past 5 years to defer the gain. I've searched the IRS site for information, but did not find anything which describes my situations.

Any additional help is appreciated.

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