https://ttlc.intuit.com/community/taxes/discussion/do-i-have-to-claim-the-profits-from-selling-my-house/01/3173097#M1185684 <P>Do I have to claim the profits from selling my house?</P> Wed, 11 Feb 2026 04:13:23 GMT John Dutton 20251 2026-02-11T04:13:23Z https://ttlc.intuit.com/community/taxes/discussion/do-i-have-to-claim-the-profits-from-selling-my-house/01/3173097#M1185684 <P>Do I have to claim the profits from selling my house?</P> Wed, 11 Feb 2026 04:13:23 GMT https://ttlc.intuit.com/community/taxes/discussion/do-i-have-to-claim-the-profits-from-selling-my-house/01/3173097#M1185684 John Dutton 20251 2026-02-11T04:13:23Z https://ttlc.intuit.com/community/taxes/discussion/re-do-i-have-to-claim-the-profits-from-selling-my-house/01/3173105#M1185685 <P>If you have lived in the house you plan to sell for more than 2 years in the last 5 years before you sell it, you are eligible for the capital gain exclusion of $250,000 ($500,000 if you file jointly).</P> <P>&nbsp;</P> <P>If the capital gain is below this threshold, you don't have to report the sale on your tax return, except if you receive a form 1099-S in which case you have to report the sale but the capital gain will be excluded from taxation.</P> <P>&nbsp;</P> <P>Please read this <A href="https://www.irs.gov/taxtopics/tc701#:~:text=If%20you%20have%20a%20capital,Home%20provides%20rules%20and%20worksheets." target="_blank">IRS document</A> for more information.</P> <P>&nbsp;</P> Wed, 07 Feb 2024 17:24:56 GMT https://ttlc.intuit.com/community/taxes/discussion/re-do-i-have-to-claim-the-profits-from-selling-my-house/01/3173105#M1185685 MinhT1 2024-02-07T17:24:56Z https://ttlc.intuit.com/community/taxes/discussion/re-do-i-have-to-claim-the-profits-from-selling-my-house/01/3173109#M1185686 <P>If you sold your primary personal residence and you lived in and owned the home for at least two years in the five year period on the date of sale, you do not have to report the sale if your gains are less then the exclusion amounts of $250,000 if filing Single or $500,000 if filing Married Filing Jointly (and both lived in the home for two years).</P> <P><BR />Gain or Loss = Sales Price minus Sales Expenses minus Adjusted Basis (Purchase Price plus the cost of improvements prior to the sale)</P> <P><BR />If you had a gain greater then the exclusion amounts then you would have to report the sale. Also, if you received a Form 1099-S for the sale either with a gain or a loss, the sale has to be reported.</P> Wed, 07 Feb 2024 17:25:18 GMT https://ttlc.intuit.com/community/taxes/discussion/re-do-i-have-to-claim-the-profits-from-selling-my-house/01/3173109#M1185686 DoninGA 2024-02-07T17:25:18Z