Hal_Al
Level 15

Deductions & credits

Q. I sold my house in 2020. Do I have to report the sale anywhere on my taxes?

A. Technically no, if you meet the rules for the home sale exclusion (lived in 2+ years and less than $250K/$500K capital gain.

 

From a practical standpoint, if you get a 1099-S (usually in your closing papers and not sent to you the following January) you should file to avoid an IRS letter. The TurboTax interview handles this properly so the sale is reported but no income is declared.