No, it is not important if you know you have no taxable gain because of the $500,000 exclusion. In fact, if you didn't receive 1099-S reporting the sale and you have no taxable gain, you don't have to report the home sale at all.

Note: If you lived and owned your home for at least two years in the 5 year period on the date of sale - you don't have to report the on your tax return- if your gain is less than $250,000 if filing Single (and $500,000 for married filing jointly both spouses must live and own the home for 2 years).

If your gain is larger than the amounts above (or received 1099-S) you must report the sale

1. Wages and Income
2. Select Less Common Income
3. Select Sale of Home

My daughter claimed me as a dependent.  I did sell a house for a 5000.00 profit .   This was my only income.  Do I need to file?   Would I benefit filing this to receive  stimulus check from corona virus outbreak? 

Your income is too high for your daughter to claim you ... and you should file a return to report the profit if the gross sales price was 12K or more.