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spongebob014
New Member

Sold a home in 2016, I lived in it for three years. In 2016 it was a rental home, how do I find out if I'm paying capitol gains on it? Why does it add it to my income?

 
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PatriciaV
Employee Tax Expert

Sold a home in 2016, I lived in it for three years. In 2016 it was a rental home, how do I find out if I'm paying capitol gains on it? Why does it add it to my income?

It depends. If this was your primary residence for two of the last five years and you haven't sold a home in the last two years, the sale of your home may not be taxable or reportable.

You might wish to review your entries under Sale of Home to verify your entries.

Read more about this below:

https://ttlc.intuit.com/replies/3300213

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