topic Do I have to claim sale of my primary residence if the net gain was under $250K? in Deductions & credits

Do I have to claim sale of my primary residence if the net gain was under $250K?

mrakgolf — Tue, 10 Feb 2026 10:32:39 GMT

Never sold another primary home.

Re: Do I have to claim sale of my primary residence if the net gain was under $250K?

xmasbaby0 — Wed, 28 Feb 2024 17:37:56 GMT

SALE OF HOUSE

If your gain was more than $250,000 filing Single, or more than $500,000 filing Married Filing Jointly the sale must be reported on your tax return. Whether you re-invested the gain in to another house is irrelevant. If you have a Form 1099-S go to Federal>Wages and Income>Less Common Income>Sale of Home (gain or loss)

If you owned and lived in the home as your primary residence for at least 2 of the last 5 years on the date of the sale, you do not have to report the home sale if the gain is less than $250K filing Single, or less than $500K filing Married Filing Jointly (and you both owned and lived in the home for at least 2 years).

If you are using online TT, you need Premium software to report the 1099-S

NOTE: If you have ever used the home as rental property or claimed a home office, you have more information to enter

Re: Do I have to claim sale of my primary residence if the net gain was under $250K?

rjs — Wed, 28 Feb 2024 17:45:01 GMT

If you received a Form 1099-S for the sale of your home, you have to report it on your tax return even if ends up not being taxable because you qualify to exclude the entire gain. If you did not receive a Form 1099-S, and you qualify to exclude the entire gain, you do not have to report the sale.