Military PCS Home Sale

[Hhugs]

I’m active duty military (AK resident) and bought a home when I moved to Maryland in 2023, but I advanced quickly and had to move again across the country to California in 2024, so I had to sell my house, which was my primary residence. After all the fees, I broke even with only around a $1000 gain. Can I use basic TurboTax to report a home sale? I never received a 1099-S, I only have a 1098. Do I even need to report it?

[PatriciaV]

If you didn't receive Form 1099-S, you are not required to report this sale. Also, as active duty military, you aren't subject to the five-year residence test rule and can exclude any gain up to $250,000 for one residence at a time. See IRS Military Family Tax Benefits.

Note that active duty military members may file with TurboTax for free. You may upgrade to whatever version is best for your tax situation at no cost. For more info on the military discount, see the TurboTax military discount site.

Thank you for your service.

[Hhugs]

Thank you Patricia. Apparently I was supposed to receive a 1099-S when I signed, so that was sent to me by the title company yesterday. Since I need to claim this now, I see I need to upgrade to TurboTax Premium. I appreciate the help!