Exclusion of Gain from sale of Principal Residence

nthirsk · ‎June 5, 2019

I bought this principal home on 7/30/10 and on 1/1/2012, I moved to a different state because of changing of employment. In 2012, I rented the home out. In 2017, I sold the house. 1) I didn't receive a 1099-S, sale price is below $250K. Do I need to report this sale on the tax return? 2) If so, Do I qualify for exclusion of the capital gain?

Anita01 · ‎June 5, 2019

Yes, you will have to enter it as part of the rental property interview. If you lived in the house less than 2 of the last 5 years before selling, it would be a pure rental property sale and would not qualify for an exclusion.

nthirsk · ‎June 5, 2019

Thanks for your response. Do I qualify for the partial exclusion of gain because it's work related move?

Exclusion of Gain from sale of Principal Residence

State tax filing

State tax filing