Q. If I sell for 150k, do I need to file a 1099s? Or would this be not reportable because it’s less than 250k?
A. Technically, you do not need to file since you meet the rules for the home sale exclusion (lived in 2+ years and less than $250Kcapital gain).
From a practical standpoint, if you get a 1099-S (usually in your closing papers and not sent to you the following January) you should file it to avoid an IRS letter. The TurboTax interview handles this properly so the capital gain is excluded.
