Can I use the home sale exclusion for my rental property if I move there?

May 14, 2004

From:  Lew
Date:  Fri, 25 Apr 2004

I am planning to sell my principal residence this year and claim the $500,000 exclusion. If I move into my rental property and use it as a principal residence for more than two years, will I be able to claim the exclusion if I sell the former rental property?

Answer

Date:  Fri, 30 Apr 2004

Hello Lew,

Yes. Remember the exclusion doesn't apply to accumulated depreciation claimed while you rented the property.

Good luck!
Mike Gray

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