brossyg
Returning Member

Sold two primary residences in one year. Capital Gains tax zero?

I owned a house 20+ years and then bought a condo three years ago (divorce situation). In 2023, I moved out of state and sold both the house and the condo. They were both primary residences for the 2 out of 5-year look-back period. I have gains in both sales, but together they total less than $250,000. I am single.  TuboTax seems to be treating the gains with zero tax ... I guess since the total is less than $250,000??? Can I apply the $250,000 exclusion to both sales since the total is less than $250,000 (So, TurboTax is computing it correctly), or can I only shield the sale of one of the residences from capital gains tax?