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Do I even need to mention the sale of a primary home if I lived there over four years as the primary residence, never rented it out, and netted around 20k off the sale?

 
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JohnB5677
Expert Alumni

Do I even need to mention the sale of a primary home if I lived there over four years as the primary residence, never rented it out, and netted around 20k off the sale?

If you lived in your home for more than two of the last four years,

and the profit on the house was less than

  • $250,000 for a Single Taxpayer
  • or $500,000 if filing Jointly

And you did not get a 1099-S (Sale of Property).

Then you do NOT have to post it to your return.

 

If you do have to post it, follow these steps:

  1. Federal Taxes 
  2. Wages and Income 
  3. Select on I'll choose what I work on
  4. Scroll down to Less Common Income
  5. On Sale of Home (gain or loss),
  6. click the START or UPDATE button
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