2017 Tax Question

I sold a property in 2017 and need to confirm if the $250,000 deduction was taken, as I have another property for sale now, and may need to hold sale until 8/3/2019 if the deduction was taken. I do not see this in my documentation.

Please advise.

posted

If you sold a personal residence in 2017 and you entered it in the program then there would be either an entry on the form 8949/Sch D or the home sale worksheet or both. Save a new PDF of the return and look.

we're assuming these are/were your principal residences because only they qualify for the exclusion. if so be very careful of the 2 year occupancy rule. for example close on say 8/1/xx but don't move in until 8/15/xx the 2 year use starts on 8/15.