Duplex sale and residential exclusion

Situation: Owner of duplex has lived in half and rented the other half of a duplex for almost 50 years. Is going to sell and travel the world.

My guess is that half of the sale will be covered by the residential exclusion and the other half as fully-depreciated rental property. Does anyone have a problem with that?

Alternatively, could they stop renting the other half, wait two years, sell and then consider the entire sale covered by the residential exclusion?

-HW "Skip" Weldon Columbia, SC

Reply to
HW "Skip" Weldon
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Can owner not move to the other half and live in it for two years and have the entire thing excluded? Just wondering.

Reply to
PeterL

Has owner been depreciating the half rented out?

Reply to
kastnna

Yes. (Ouch.)

-HW "Skip" Weldon Columbia, SC

Reply to
HW "Skip" Weldon

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