RobertB4444
Expert Alumni

Get your taxes done using TurboTax

Unfortunately, yes.  it's annoying but the only way that the IRS has to know what the basis on the house was is for you to file a return that tells them.  If you don't file the return all that they see is that you made 225K and didn't pay taxes on it.

 

@SHESTATE 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"