Can a client take the full exclusion when selling their main home if they rented out rooms while living there and reported the income and expenses on the Schedule E?

[Pioneer_Tax]

Any help will be greatly appreciated...

[sjrcpa]

Possibly almost a full exclusion depending on details of rental activity.

In any case, gain attributable to depreciation allowed or allowable is taxable.

[Code_Reader]

Also watch out for the way the state handles the issue. (I'm looking at you, Pennsylvania.)

[Pioneer_Tax]

Thank you!  Sorry just getting back to you now...I am also a Business & Math teacher...so things have been busy and are just going to get more busy...

[Pioneer_Tax]

I am in Nevada...