Sale of home less than $200000

JUDGE10 — Sat, 01 Jun 2019 05:05:13 GMT

i can't find my hud report to list all of the expenses. we netted a gain of approx. 180000. Do we have to report this as income? we are a married couple

Maybe not. If all of the following apply, you don't need...

KarenL2 — Sat, 01 Jun 2019 05:05:15 GMT

Maybe not. If all of the following apply, you don't need to report it.

You lived in the home as your main home for at 2 of the 5 years preceding the sale.
Your "net" profit from the sale is less than $250,000 ($500,000 if Married Filing Jointly).
You didn't take depreciation deduction on the home or use it for business during the time you owned it.
You didn't rent it out at any time that you owned it.
You didn’t receive a Form 1099-S.

Where to enter the sale of your home (if required) in TurboTax: While inside the software and working on your return, type sale of home in the Search at the top of the screen (you may see a magnifying glass there). There will be a popup that says Jump to sale of home. Select that to get to the general area.

topic Sale of home less than $200000 in Deductions & credits

Sale of home less than $200000

Maybe not. If all of the following apply, you don't need...