If this second home was not your primary residence for two of the last five years, you're not eligible for the $250,000 (single) or $500,000 (Married filing jointly), exception. To enter the sale of you primary residence, see Is the money I made from a home sale taxable?
However, you may be eligible for capital gains rates if you held the property for more than one year and it was not your primary residence. See Where do I enter the sale of a second home, an inherited home, or land on my 2021 taxes?
TurboTax will calculate if you have a gain on the property and the related income taxes (if any). Simply enter the information into TurboTax.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
