In each case, the property has been used as a principal residence for the period described, and subject to the facts as described. The basis shown is AFTER the depreciation. Complete the blanks:
Period of Use |
Sales Price |
Basis |
Depreciation |
Gain Recognized |
3 years before sale; all residence |
450,000 |
200,000 |
-0- |
|
3 years before sale; 10% office in home use |
450,000 |
200,000 |
4,000 |
|
2 years rental followed by 3 years residence |
450,000 |
200,000 |
30,000 |
|
3 years residence followed by 2 years rental |
450,000 |
200,000 |
30,000 |
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