ThomasM125
Expert Alumni

Deductions & credits

I assume you mean the sale of your residence. You will enter that in the Wages and Income section, then Other Common Income, then Home sale, canceled debt (1099-C, 1099-A), (1099-SA, gambling, etc.

 

The sale may qualify for an exclusion of gain of up to $250,000 (single filer) and $500,000 (married Joint). You can learn more from this IRS Tax Topic 701

 

 

 

 

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