I bought a house in 2012 and lived in it for 2 years. After, I rented it for 2.5 years, then sold it in July 2017.
I bought it for $195,000, sold for $255k. Took depreciation of $13,886 total on my prior taxes. I satisfy the rule where i lived in it for 2 of 5 years so shouldn't pay taxes on the gains. However, I think I have to pay taxes on the depreciation.
Anyone have any idea how much this would be?
I have an accountant doing my taxes, however, am trying to plan how much will be leaving my emergency fund