You will enter the sale as normal, use the instructions below. After you enter the sale information, you will be asked the reason for the sale. Choose Other Reasons. On the next screen, you will choose Military, foreign service, IC employee, Peace Corp. Don't panic if you see the tax due jump before you complete the process, it will adjust when you apply the military status.
If you or your spouse are on qualified official extended duty in the Uniformed Services, the Foreign Service or the intelligence community, you may elect to suspend the five-year test period for up to 10 years. An individual is on qualified official extended duty if, for more than 90 days or for an indefinite period, the individual is:
- At a duty station that's at least 50 miles from his or her main home, or
- Residing under government orders in government housing.
Refer to Publication 523 for more information about this special rule to suspend the 5-year test.
If you were entitled to take depreciation deductions because you used your home for business purposes or as rental property, you cannot exclude the part of your gain equal to any depreciation allowed or allowable as a deduction for periods after May 6, 1997.
Where do I enter a home sale - You are going to search for home sale or sale of home (either works). Tell TurboTax you want to enter the sale whether you have a 1099-S or not; it isn't required. If you can exclude the entire gain, the sale won't be reported on your return.
Military State Info
Publication 3 - Armed Forces Guide
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