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I sold and purchased a house in 2016, how do I add that?

Forum|Forum|7 years ago
June 1, 2019
1 reply
21 views

No text available

TurboTax Premier Online

Best answer by PaulaM

For the home purchase, the deductions that are available to you would be interest, real estate taxes, points and private mortgage insurance. You may have received a Form 1098 for the interest and points. Enter in the Your Home section under Deductions & Credits

For the home sale, if this was your primary home you may not need to enter it all in TurboTax. You may exclude up to $250,000 ($500,000 for married filing joint) of the gain if all requirements are met. See link below.

Second homes and other investment homes would need to be entered in TurboTax under the Investment section.

https://ttlc.intuit.com/questions/1899435-is-the-money-i-made-from-a-home-sale-taxable

Alumni - Expert

Answer

Alumni - Expert

For the home purchase, the deductions that are available to you would be interest, real estate taxes, points and private mortgage insurance. You may have received a Form 1098 for the interest and points. Enter in the Your Home section under Deductions & Credits

For the home sale, if this was your primary home you may not need to enter it all in TurboTax. You may exclude up to $250,000 ($500,000 for married filing joint) of the gain if all requirements are met. See link below.

Second homes and other investment homes would need to be entered in TurboTax under the Investment section.

https://ttlc.intuit.com/questions/1899435-is-the-money-i-made-from-a-home-sale-taxable

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