Property sold in 2017. Owned for 3 years. Lived in for 3 years. IRS Publication 523 seems clear. Yet, when entering in TurboTax, the gain is shown as taxable. I've double checked requirements etc. I'm beginning to wonder if TurboTax has incorporated the changes that go into effect with the 2018 tax law?
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Actually for future reference ... the Premier would have done the sale correctly and put it on the Sch D if you had clicked the one easy to miss box that says to force the Sch D entry ...
The 2 years of 5 was not changed so if you lived in it for 730 days in the 5 year period prior to the sale and you didn't profit more than $250K single or $500K married then you don't need to enter the sale on the return at all UNLESS you were issued a 1099-S at the closing.
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