Unrecaptured Section 1250 Gain

[TAXBILLY]

Have a client who bought his principal residence in 1993 and sold it in 2006. Lived in it for two of the past five years and so qualifies for the exclusion.

Rented it out for two years after May 6, 1997.

I put the depreciation on the 1250 worksheet above where it says line 12 and I get a figure on line 18 but the amount does not carry to line 19 of the Schedule D.

Am doing something wrong ...

taxbilly

[BulldogTom]

Taxbilly,

off the top of my head, I am wondering if you used the tab on the schedule D for sale of principal residence. I used that tab for a situation like yours a couple of years ago and it went through perfectly.

Hope this helps.

Tom

Lodi, Ca

[joanmcq]

Yes, if it was his residence at time of sale, it goes on the D.

[kcjenkins]

Have a client who bought his principal residence in 1993 and sold it in 2006. Lived in it for two of the past five years and so qualifies for the exclusion.

Rented it out for two years after May 6, 1997.

I put the depreciation on the 1250 worksheet above where it says line 12 and I get a figure on line 18 but the amount does not carry to line 19 of the Schedule D.

Am doing something wrong ...

taxbilly

Did you fill in the boxes at the top of the line 19 worksheet? See the tabs at the bottom.