house sal

Forum|Forum|11 months ago
October 2, 2025
2 replies
48 views

where do I declare capital gains exemptions for sale of house?

Best answer by xmasbaby0

Expert Reviewed

SALE OF HOUSE

If your gain was more than $250,000 filing Single, or more than $500,000 filing Married Filing Jointly the sale must be reported on your tax return. Whether you re-invested the gain in to another house is irrelevant. If you have a Form 1099-S go to Federal>Wages and Income>Less Common Income>Sale of Home (gain or loss)

If you owned and lived in the home as your primary residence for at least 2 of the last 5 years on the date of the sale, you do not have to report the home sale if the gain is less than $250K filing Single, or less than $500K filing Married Filing Jointly (and you both owned and lived in the home for at least 2 years).

If you are using online TT, you need Premium software to report the 1099-S

TO ENTER THE SALE OF YOUR PRIMARY HOME

Start with Federal
Click on Wages and Income
Select Choose what I work on
Scroll down to Less Common Income
On Sale of Home (gain or loss),
Click the start or update button

NOTE: If you have ever used the home as rental property or claimed a home office, you have more information to enter

https://ttlc.intuit.com/turbotax-support/en-us/help-article/homeowner-tax-credits-deductions/selling-home-affect-taxes/L3I66YR0u_US_en_US?uid=m6cuq5qg

xmasbaby0

Answer

Level 15

Expert Reviewed

SALE OF HOUSE

If you are using online TT, you need Premium software to report the 1099-S

TO ENTER THE SALE OF YOUR PRIMARY HOME

Start with Federal
Click on Wages and Income
Select Choose what I work on
Scroll down to Less Common Income
On Sale of Home (gain or loss),
Click the start or update button

NOTE: If you have ever used the home as rental property or claimed a home office, you have more information to enter

https://ttlc.intuit.com/turbotax-support/en-us/help-article/homeowner-tax-credits-deductions/selling-home-affect-taxes/L3I66YR0u_US_en_US?uid=m6cuq5qg

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**