DanielV01
Expert Alumni

Deductions & credits

@mschwartz1978  Although @CRitter3 is correct that there is no reason you will have any tax liability, you could have a reporting requirement, since you are selling the home.  If you receive a Form 1099-S, for example, the sale is reported to the IRS.  You would need to report the sale in that case so that the IRS does not treat the entire proceeds as taxable income.

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