Based on the amounts of the sales, most likely there is no tax due on these transactions. Also, since they were personal use only, these sales were not taxable. However, you still want to report them as follows:
If you sold your main home
- Sign in to TurboTax and select Pick up where you left off.
- Select Search, enter sale of home, and select the Jump to link in the search results.
- Answer Yes to Did you sell or have your home foreclosed in 2023?
- Enter the address of the home you sold on the next screen, and Continue.
- On the next screen, answer Yes to Did you receive a Form 1099-S that reported this sale? and enter the info from your 1099-S.
- On the next screens, follow the on-screen instructions to continue entering the info from your 1099-S.
Profits of up to $250,000 ($500,000 on a joint return) on the sale of your home may not be taxable if it was your primary residence for two of the last five years. We’ll ask you some questions about the sale of your home to see if you qualify.
If you sold other real estate
Select which type of sale you made for step-by-step instructions:
Is the Money From Sale of Property Taxable
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