AmyC
Employee Tax Expert

Investors & landlords

The sale of a personal residence is often not taxable, if you lived in the home 2 out 5 years and have less than $250,000 in capital gains per person. If you do not meet the rules or had more capital gains, it should be showing the income on Sch D.

There are exceptions for special circumstances as well such as military, health issues, etc that allow a proration.

Form 8949 is active and working and carries to capital gains on sch D.

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