topic Sold 2 houses and bought 1 in Get your taxes done using TurboTax

Sold 2 houses and bought 1

NathanCaskey — Tue, 10 Mar 2026 07:03:03 GMT

Hi,

My wife and I both sold our houses this year when we got married and bought one (that we now live in). I've done some research on a 1031 exchange and I've seen a thread that mentions Form 8824.

What do I need to do in turbotax to avoid capital gains tax on one or both of the sold houses?

Re: Sold 2 houses and bought 1 (1031 exchange)

Anonymous_ — Wed, 16 Nov 2022 17:16:53 GMT

If your houses were held for personal use, they do not qualify for a Section 1031 exchange.

See https://www.law.cornell.edu/uscode/text/26/1031

Only real property held for productive use in a trade or business or for investment qualifies for like-kind exchange treatment.

Re: Sold 2 houses and bought 1 (1031 exchange)

NathanCaskey — Wed, 16 Nov 2022 17:20:37 GMT

@Anonymous_ Thank you for the clarification. Is there anything special that needs to be done in Turbo Tax for the sale of 2 primary residences and the purchase of 1 primary residence?

Re: Sold 2 houses and bought 1 (1031 exchange)

Anonymous_ — Wed, 16 Nov 2022 17:23:03 GMT

You will most likely receive a 1099-S for the sale of each property.

Note that you will be able to take advantage of the home sale exclusion if you meet the requirements.

See https://www.irs.gov/taxtopics/tc701