Hal_Al
Level 15

Deductions & credits

Q. If i did not have an income last year but did sale my primary home of 9 years in Texas and bought a new primary home in Indiana do i have to file a return?

A. Simple answer: No. 

 

You are allowed to exclude the capital gain on the sale of your home (see qualifying details at other reply).  That means your income for the year is below the filing threshold and you do not need to file a tax return.

 

But, if you received a form 1099-S (usually part of your closing papers), the IRS knows about the large sum you received and there is a good chance of you hearing from them.  Filing to avoid that is frequently recommended.