What you did with the money from the house you sold is irrelevant. You do not enter it into your tax return. The last year it mattered whether you re-invested money from the sale of a house into buying another house was 1997.
Go to Federal> Deductions and Credits> Your Home to enter mortgage interest, property taxes, private mortgage insurance (PMI) and loan origination fees (“points”) that you paid in 2019. You should have a 1098 from your mortgage lender that shows this information. Lenders send these in January/early February.
Did you receive a 1009S for the house you sold?
If your gain was more than $250,000 filing Single, or more than $500,000 filing Married Filing Jointly the sale must be reported on your tax return. Whether you re-invested the gain in to another house is irrelevant. If you have a Form 1099-S go to Federal>Wages and Income>Less Common Income>Sale of Home (gain or loss)
If you owned and lived in the home as your primary residence for at least 2 of the last 5 years on the date of the sale, you do not have to report the home sale if the gain is less than $250K filing Single, or less than $500K filing Married Filing Jointly (and you both owned and lived in the home for at least 2 years).
- If you are using online TT, you need Premier or Self-Employed software to report the 1099-S
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
