For your information to be complete:
1. Enter the details for your purchased home:
- From your settlement statement,you may have a portion of the property taxes
- You will have a "new" Form 1098 for the mortgage interest expenses
2. Report the sale of your home. The article below has all the steps for TurboTax.
- If you lived in the sold home for two out of the last five years and never rented the property or used a home office deduction (not the simplified method), then the homeowner has a $250,000 gain exemption. If there is a spouse and the home is jointly held, then each have the $250,000 exemption for a total of $500,000.
For more details: Sold a house and bought a house.
