topic Sale of house in Deductions & credits

Sale of house

vicwess — Tue, 10 Feb 2026 10:52:48 GMT

Lived in house for 22 years. Got divorced sold house and paid for new house with money I got from sale. Only made $40,000 from sale in pocket. Didnt get 1099-S and its mid February. What TURBO TAX do I use and any other help you might have thank you !

Do I still write off improvements to either house???

Re: Sale of house

JulieS — Sat, 24 Feb 2024 14:13:59 GMT

No, you don't have to report the sale of your home on your tax return if all of the following are true:

You lived in the home more than two years of the five years before the sale.
You didn't use the home for business, or rental use.
Your gain was less than $250,000.
You didn't get a 1099-S.

You can use the same version of TurboTax that you used last year, if this is the only change to your return.

Generally, home improvements aren't tax deductible, but they change the amount of gain on the sale of your home. Since you don't have to report the sale of your home, you don't need to enter anything about your improvements.

Here's are two exceptions to claiming home improvements:

Improvements that qualify as medical expenses - this includes things like ramps, grab bars, and floor leveling that are needed to accommodate a disabled person living in the house. Follow this link for more details.
Improvement that qualify for the Clean Energy Credit or the Residential Energy Credit. Follow this link for more.

Re: Sale of house

Hal_Al — Sat, 24 Feb 2024 14:37:26 GMT

If you did not get a 1099-S, you do not need to enter the sale on your tax return, at all, if you qualify for the home sale exclusion (the 2 year rule).

But check your closing papers. The 1099-S is usually there. That is, it is not sent to you again, after the end of the year, like other 1099 documents.

Re: Sale of house

vicwess — Sat, 24 Feb 2024 15:08:39 GMT

Thank you so so much for your quick response and help ! I appreciate it so much !