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Sale and purchase of home in 2022
I sold and purchased a primary residence in 2022. I did receive a1099 S and have recorded that info in my turbo tax return. I do not think the gain is taxable based on what I have read, but I can not find anywhere in turbo tax to offset the gain showed on 1099 S. My current return is showing me owing 54,000 federal tax, where as it was at $2,000 refund before adding 1099S. Please tell me what section to enter the offset purchase of the new home. TIA
‎October 22, 2023
10:50 AM