Selling House

John Dutton 20251 — Wed, 11 Feb 2026 06:41:22 GMT

Do I need to claim the profits from selling my house?

Re: Selling House

Vanessa A — Wed, 06 Mar 2024 17:49:36 GMT

Possibly. It depends on a few things:

Is it your personal residence? If so, have you lived in it for 2 out of the last 5 years? How long have you owned the home? If you owned and lived in the home for 2 out of the last 5 years, then you may qualify for the home sale exclusion which would exclude up to $250k ($500k if married filing jointly) of the sale of your home. In order to qualify you must not have used the home sale exclusion in the past 2 years.
If you do not qualify, the rest of your income will play a part in the tax rate. This would be a capital gains sale so your tax rate would be between 0% and 20%. The capital gains rates are as follows based on income
- Zero percent rate for the following income
  - $44,625 for single or MFS
  - $59,750 for HOH
  - $89,250 for Married Filing Jointly
- Fifteen percent for income more than above but less than below
  - $276,900 for MFS
  - $492,300 for Single
  - $523,050 for Head of Household
  - $553,850 for Married Filing Jointly
- Twenty percent for the amount that your taxable income is over the 15% level.

To enter the Sale of a Home select the following:

If it was not your primary home, you will enter it by doing the following: