topic yes in Deductions & credits

Selling a foreign primary residence which was bought before my wife has greencard ? After living in US for 3 years, she sold it. How to file?

taxericko — Thu, 06 Jun 2019 07:10:49 GMT

How can we enter this transaction in TurboTax ?

This place is consider her primary residence. When she left for US 3 years ago, she rented it out and we have claim/declared this place as foreign rental property in TurboTax

She should qualify at least the gain for 250K because it is her primary residence in that country.

How we should enter this plus rental royalty ?

Did she live in it 2 out of the last 5 years?

KarenJ — Thu, 06 Jun 2019 07:10:52 GMT

Did she live in it 2 out of the last 5 years?

yes

taxericko — Thu, 06 Jun 2019 07:10:53 GMT

yes

The following answer was provided to a question similar t...

JulieR — Thu, 06 Jun 2019 07:10:55 GMT

The following answer was provided to a question similar to yours and provides instructions for reporting this sale on your return. https://ttlc.intuit.com/replies/6690008

A follow up questions... because it was a rental for the...

taxericko — Thu, 06 Jun 2019 07:10:57 GMT

A follow up questions... because it was a rental for the last 3 years (it was rental out when my wife immigrated to US) and for the last 3 years, we declare rental income for this property... do i need to log a transaction on the rental side too ? eg: i think there is one for selling rental property as well on that section

Yes, you need to report the sale in the rental section only.

KarenJ — Thu, 06 Jun 2019 07:10:58 GMT

Yes, you need to report the sale in the rental section only.

thanks !

taxericko — Thu, 06 Jun 2019 07:11:00 GMT

thanks !