- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Home Sale Exclusion-Problem with TurboTax Software?
I am inputting the sale of my home in Turbo Tax and it keeps telling me that I don't have exclusion on my gain, that my entire $210,000 is taxable income. The problem is, I spent 7 years as a tax accountant and have MSA in Accounting so I know all of my inputs into the system are correct. I have tried about 20 times and it still tells me the same. I've even gone through slowly to make sure I didn't miss anything. Bought in 2018 and sold in 2022 and was always my primary residence.
I think there may be an issue on the page that asks "Did you use this home for anything other than your primary home?" The answer is no, it was my personal residence only. This section then explains "Let us know if there was any time after 2008 where you used your home for reasons other than as your primary home. If you used your home for reasons other than as your primary residence after it was no longer primary home, select ‘No’." If I select yes (which would be completely incorrect) it then asks me what I used it for after the sale of my home. So the statements completely contradict each other and I think it is throwing the software off.
Anyone else having this issue?