MinhT
Expert Alumni

Investors & landlords

You lived in your home as a primary residence for at least 2 years in the last 5 years and you qualify for the capital gain exclusion of $500,000 (married filing jointly) or $250,000 (other filing statuses.

If your capital gain is less, you do not need to report the sale of your home in TurboTax if you do not receive form 1099-S.

If you receive form 1099-S, you have to report of the sale but still qualify for the exclusion of capital gain as explained above.

In TurboTax, you report the sale of your home in the Less Common Income section (see attached screenshot).

In the TurboTax interview, answer very carefully the questions, paying particular attention to dates.

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