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Phil is talking about the new non-qualified use provisions which started on 1/1/2009. Any gain (not the exemption) attributable to non-qualified use is fully taxable. Gain attributable to qualified use (that is, use as a principal residence) is eligible for up to the full exclusion under section 121.


Are you certain? Everything I have read states that the exemption is prorated based on qualified/non-qualified usage. Recaptured depreciated is a separate issue.
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