Where in TT do I enter the info for my new home to offset the capital gain of the sale of my home?

atraverso — Tue, 03 Feb 2026 11:16:56 GMT

Re: Where in TT do I enter the info for my new home to offset the capital gain of the sale of my home?

xmasbaby0 — Thu, 13 Feb 2025 14:55:05 GMT

Buying a new home to offset capital gain on the "old" home has been irrelevant since 1997.

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

topic Where in TT do I enter the info for my new home to offset the capital gain of the sale of my home? in Deductions & credits

Where in TT do I enter the info for my new home to offset the capital gain of the sale of my home?

Re: Where in TT do I enter the info for my new home to offset the capital gain of the sale of my home?