- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Hello rbbice,
Here is general answer without knowing where the home was located. If this was your primary home, located in FL and you lived and owned this home 2 out of 5 years, you are eligible to exclude gain of up to $250,000 for single and $500,000 married joint return. Assuming this was FL home, there will be no tax due to MA. Also MA follows same rule as federal for primary home sale.
https://www.irs.gov/taxtopics/tc701
Thanks for participating in TurboTax's Ask the Expert event today. I hope this information was helpful!
‎October 30, 2024
10:33 AM