I sold my house after 1 year, 10 months of living in and owning it; was not married during any portion of that time, and therefore do not qualify for the capital gains exemption.
I have not received a 1099-S form at any point in the process, so should I still report my gains?
What to report as gains is also a question I have, but first I would like to know if I should report them even if I did not receive a 1099-S.
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Yes, you must report the sale of the home if you can't exclude all of your capital gain from income even if you didn't receive Form1099-S.
If you don't meet the Eligibility Test, you may still qualify for a partial exclusion of gain. You can meet the requirements for a partial exclusion if the main reason for your home sale was a change in workplace location, a health issue, or an unforeseeable event. For more information please check: irs.gov
TurboTax will show you if your home sale is taxable, by following the instructions provided:
Please check the link below for information on what you can deduct:"
I sold my home, what can I deduct?
Yes, you must report the sale of the home if you can't exclude all of your capital gain from income even if you didn't receive Form1099-S.
If you don't meet the Eligibility Test, you may still qualify for a partial exclusion of gain. You can meet the requirements for a partial exclusion if the main reason for your home sale was a change in workplace location, a health issue, or an unforeseeable event. For more information please check: irs.gov
TurboTax will show you if your home sale is taxable, by following the instructions provided:
Please check the link below for information on what you can deduct:"
I sold my home, what can I deduct?
Are you sure you do not have a 1099-S form in the pile of paperwork sent home with you at the closing ?
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