We moved from New Jersey to Florida in 2023 . Trying to get gain exclusion if possible

[xmasbaby0]

"Gain exclusion" for what----a house you sold?  

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

[DawnC]

If it was your main home, see below.   When you sell a second home, however, the tax situation is different.

Main Home Sale

You won't pay taxes on the first $250,000 (also known as a gain) you make from the sale of your home (or the first $500,000 if you're Married Filing Jointly).   That income is free and clear as long as:

• You owned the home.
• It was your main home for two years or more within the five years leading up to the sale.
• You waited at least two years between selling your primary home and excluding your first $250,000 or $500,000 from taxes. In other words, you may buy and sell as many primary homes as you'd like, but you'll only get this tax benefit every two years.

TurboTax will show you if your home sale is taxable by following the instructions provided:

1. Open or continue your return in TurboTax.
2. Search for home sale.
3. Select the Jump to link in the search results.
4. Answer Yes to Did you sell or have your home foreclosed in 2023? on the Sale of Your Main Home screen.
5. Follow the instructions to enter your info.