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juan2h2
New Member

Where should the unreported gain filed on Form 2119 in 1979 be reported on our 2017 return?

We had a gain on our home we sold in 1979. The gain was reported on Form 2119. We purchased another home in 1980 and sold it in 2017. Where should the Form 2119 gain be reported?

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Coleen3
Intuit Alumni

Where should the unreported gain filed on Form 2119 in 1979 be reported on our 2017 return?

If you filed Form 2119 when you originally acquired your old home to postpone gain on the sale of a previous home (back in 1997 or earlier), use the adjusted basis of the new home calculated on your Form 2119. (See Postponed Gains Under the Old "Rollover" Rules section.)

https://turbotax.intuit.com/tax-tips/home-ownership/tax-aspects-of-home-ownership-selling-a-home/L6t...

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Coleen3
Intuit Alumni

Where should the unreported gain filed on Form 2119 in 1979 be reported on our 2017 return?

If you filed Form 2119 when you originally acquired your old home to postpone gain on the sale of a previous home (back in 1997 or earlier), use the adjusted basis of the new home calculated on your Form 2119. (See Postponed Gains Under the Old "Rollover" Rules section.)

https://turbotax.intuit.com/tax-tips/home-ownership/tax-aspects-of-home-ownership-selling-a-home/L6t...

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