You don't have to report the gain from your home sale if all of the following apply:
- Your gain from the sale was less than $250,000 ($500,000 if Married Filing Jointly)
- You owned and occupied the home for at least 2 of the last five years
- You haven't used the exclusion in the last 2 years.
Refer to the TurboTax article Tax Aspects of Home Ownership: Selling a Home.
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