Maybe not. If all of the
following apply, you don't need to report it.
- You lived in the home as your main home for at 2 of the
5 years preceding the sale.
- Your "net" profit from the sale is less than
$250,000 ($500,000 if Married Filing Jointly).
- You didn't take depreciation deduction on the home or
use it for business during the time you owned it.
- You didn't rent it out at any time that you owned it.
- You didn’t receive a Form 1099-S.
Where to enter the
sale of your home
(if
required) in TurboTax: While inside the software and working
on your return, type sale of home in the Search at the top of
the screen (you may see a magnifying glass there). There will be a popup
that says Jump to sale of home. Select that to get
to the general area.
