Do I need to report a sold home in 2016 if I lived in it for 2 years as my primary residence and I profited less than $250,000 from the sale?

megan7908 — Sat, 01 Jun 2019 05:00:04 GMT

If you sold your main home in 2016, we'll determine if yo...

NicoleU — Sat, 01 Jun 2019 05:00:05 GMT

If you sold your main home in 2016, we'll determine if you need to report the sale on your return. Generally, profits of up to $250,000 ($500,000 on a joint return) do not need to be reported to the IRS. However if you received a Form 1099-S, then you may need to report it.

You will need to do the following in TurboTax:

Federal Taxes
Wages & Income
Less Common Income
Sale of Home (gain or loss)
Sold A Home, click Continue
Address of the Home You Sold, click Continue
Sales Information, click Continue
Tell Us About the Purchase of Your Home
Time You Lived In Your Home
Did You Use This Home for Anything Other Than Your Primary Home?
Another Home Sale
Depreciation After May 6, 1997
Exclusion of Gain (if you meet the requirements)
Include Sale of Home in Return (Very important, if you received a Form 1099-S), please check the box, Include my sale on my return (if applicable)

topic Do I need to report a sold home in 2016 if I lived in it for 2 years as my primary residence and I profited less than $250,000 from the sale? in Deductions & credits

Do I need to report a sold home in 2016 if I lived in it for 2 years as my primary residence and I profited less than $250,000 from the sale?

If you sold your main home in 2016, we'll determine if yo...