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jdmfontz
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Sale of the primary residence

How do I enter sale of the primary residence? Went to Deductions & Credits --> Your Home but no help there...

Searched for Form 8949 and Schedule D but nothing there....

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3 Replies

Sale of the primary residence

You can type this exact phrase:  sale of home in the search box at the top of your return and  press the Find key.   Then click on Jump to Sale of Home.

 

Enter a primary house sale under

Federal Taxes or Personal (Home & Business version)

Wages and Income

Then scroll down to the last section - Less Common Income

Sale of Home - Click the Start or Update button

Sale of the primary residence

Is your gain qualified for Section 121 exclusion? Depending on your filing status and amount of gain, you may not need to report anything if the gain is under the exclusion threshold. 

Sale of the primary residence

if you got a 1099-S you need to report it even if the IRC 121 exclusion wipes out any gain. Simply put without details the IRS does not know if there is a taxable gain because it doesn't know your basis or what your 121 exclusion is. It could be zero. 

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