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roscoe2236
New Member

House Sale

I sold a house in Louisiana that i was not renting or living in after hurricane Katrin. Do i have to file the proceeds from the sale of the house as income ? I live in Texas.

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‎May 11, 2021 10:45 PM
last updated ‎May 11, 2021 10:45 PM
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ThomasM125
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House Sale

Since you didn't live in the house as your main home for two of the last five years, you will need to report the sale on your tax return if you had a gain on the sale of it. The gain is calculated by subtracting the cost plus improvements of the house from the sale proceeds.

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‎May 16, 2021 7:45 AM
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