Moved-Couldn't Sell Personal Residence-

[zeros]

Client couldn't sell personal residence and moved from Oregon to Minnesota. She rented it out until it sold. How do you handle this? Can she use the Sec.121 exclusion on this sale? She has purchased a residence in Minnesota now.

[solomon]

Client couldn't sell personal residence and moved from Oregon to Minnesota. She rented it out until it sold. How do you handle this? Can she use the Sec.121 exclusion on this sale? She has purchased a residence in Minnesota now.

Give some dates - like when purchased, when moved, rental start date, sale date.

[JG EA]

And if you are asking about the limitation - it only applies when a rental/business and switched to personal residence. So rental after being a personal residence is all excludable provided the 2 out 5, etc. Of course the depreciation is not excluded.