Updated about 7 years ago on . Most recent reply
Long owned primary residence to rental and back again
Have owned a home for 35 years. It was my primary residence for the first 25 years then a rental for the past 10 years. My wife and I now want to again use it as our primary residence for the next 5 years then sell. Followed similar discussions in Bigger-Pockets but remain unclear how to use formula to determine the portion of qualified property $500-K tax free. Thanks Gil