I purchased Deluxe CD, but have now need Premier b/c I sold 2nd home. Do I have to pay the full price, or is there a way to get a discounted online version? 01:18 PM

Forum|Forum|5 years ago
April 1, 2021
1 reply
0 views

No text available

TurboTax Online

DoninGA

Level 15

You do not need to upgrade to Premier to report the home sale. The Deluxe edition supports this type of sale. The software may Recommend that you upgrade but it is Not Required.

If you sold your primary personal residence and you lived in and owned the home for at least two years in the five year period on the date of sale, you do not have to report the sale if your gains are less then the exclusion amounts of $250,000 if filing Single or $500,000 if filing Married Filing Jointly (and both lived in the home for two years).

If you had a gain greater then the exclusion amounts then you would have to report the sale. Also, if you received a Form 1099-S for the sale either with a gain or a loss, the sale has to be reported.

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Less Common Income
On Sale of Home (gain or loss), click the start or update button

Or enter sale of home in the Search box located in the upper right of the program screen. Click on Jump to sale of home

lynn-nanceAuthor

Level 2

Thank you for the reply. However, this is not the sale of my primary residence. It is the sale of a 2nd home. Turbotax is telling my I have to upgrade to the Premier version.