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Question: What if Part of the Home Was Rented Before Sale?

Answer: If the couple did not live in the rented part for 2 of the 5 years before the sale, treat the sale as if it were the sale of two properties.

Enter one as a rental property, and enter the other as a personal property.

Divide the value and mortgage proportionately between the two properties.

Divide the tax basis of the home between the two properties in proportion to square footage.