No, it doesn't necessarily get reported on your tax return. The sale
of your home is reported only if you have taxable gain or
received Form 1099-S.
If you lived and owned your
home for at least two years in the 5 year period on the date of sale - you
don't have to report the sale on your tax return- if your gain is less than $250,000
if filing Single (and $500,000 for married filing jointly both spouses must
live and own the home for 2 years).
If your gain is larger than the
amounts above (or received 1099-S) you must report the sale:
- Wages and Income
- Select Less Common
Income
- Select Sale of Home
