We sold a home in indiana and purchased a home in ohio nov 2023

2newknees2018 — Tue, 10 Feb 2026 11:24:54 GMT

do we file short or long form

Re: We sold a home in indiana and purchased a home in ohio nov 2023

DoninGA — Sat, 17 Feb 2024 22:09:28 GMT

The home that was sold - Was this your personal primary residence, a second home or rental property?

Re: We sold a home in indiana and purchased a home in ohio nov 2023

DoninGA — Sat, 17 Feb 2024 22:21:23 GMT

The purchase of the new home is not reported on a tax return.

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).

Gain or Loss = Sales Price minus Sales Expenses minus Adjusted Basis (Purchase Price plus the cost of improvements prior to the sale)

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. You will need the online TurboTax Premium edition to report the sale if you are using the online editions. Make sure that you indicate that you want the sale of the home reported on your tax return.

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Less Common Income
On Sale of Home (gain or loss), click the start or update button

Or enter sale of home in the Search box located in the upper right of the program screen. Click on Jump to sale of home

topic We sold a home in indiana and purchased a home in ohio nov 2023 in Deductions & credits

We sold a home in indiana and purchased a home in ohio nov 2023

Re: We sold a home in indiana and purchased a home in ohio nov 2023

Re: We sold a home in indiana and purchased a home in ohio nov 2023