topic Purchase of new home and sale of old home in different years in Deductions & credits

Purchase of new home and sale of old home in different years

Claude B — Tue, 03 Mar 2026 04:38:50 GMT

We bought a new home in 2024 but didn't get our old home sold until 2025. Do we treat the sold home as the sale of a second home? We owned the old home for 29 years. Also, we are filing as Married Filing Separately.

Re: Purchase of new home and sale of old home in different years

Claude B — Tue, 03 Mar 2026 04:43:56 GMT

I should probably add that we cleared $14,000 from the sale of the old home after paying off the mortgage of the new home.

Re: Purchase of new home and sale of old home in different years

MaxA1 — Tue, 03 Mar 2026 04:48:04 GMT

No. This should be considered a sale of your main home since it was your primary residence for 2 out of the last 5 years. Since you're filing separately, you will split the proceeds from the sale 50/50 on each return. See the following links for more information on the tax implications on the sale of your home:

Re: Purchase of new home and sale of old home in different years

Claude B — Tue, 03 Mar 2026 05:02:47 GMT

Just to be clear, we are splitting the $14k between both returns and not the full sale price of the home minus expenses? I ask because the sale price was $299k and I'm reading that we are taxed only on profits.

Re: Purchase of new home and sale of old home in different years

MaxA1 — Tue, 03 Mar 2026 05:04:45 GMT

Split the full sale price of the home minus expenses. See the following link on how to enter this into TurboTax:

Where do I enter Form 1099-S?

Re: Purchase of new home and sale of old home in different years

Claude B — Tue, 03 Mar 2026 05:22:16 GMT

Thank you. I haven't been able to locate a 1099-S but I will be in touch with the settlement company to inquire. I am quite the nerd about keeping files and it seems unusual that I don't have one. Thanks again.

Re: Purchase of new home and sale of old home in different years

BillM223 — Wed, 04 Mar 2026 17:07:49 GMT

The 1099-S is not always required to be generated, for example, on a house sold by a married couple for less than $500,000.

If the company is not inclined to issue you a copy of the 1099-S, based on what you have said, I would not worry about the lack of the form, and just continue with your return.