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Problem 15-30 Section 121 Exclusion with Depreciation. V owned a house that cost $200,000 in which she lived from July 1, 1999 until June 30,
Problem 15-30 Section 121 Exclusion with Depreciation. V owned a house that cost $200,000 in which she lived from July 1, 1999 until June 30, 2011. From July,1 2011 until September 30, 2013, the home was rented, and depreciation of $8,000 was claimed. How will the sale of the residence for $325,000 on October 1, 2013 be treated?
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