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Do I have to report the sale of a house overseas that I built and lived during my work there between 2009 - 2013?. DoI get the house profit deduction of 250k/500k?

 
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JohnW15
Intuit Alumni

Do I have to report the sale of a house overseas that I built and lived during my work there between 2009 - 2013?. DoI get the house profit deduction of 250k/500k?

Based on what you're stating, it doesn't sound like you'll be eligible for the $250K/$500K exclusion from income, and you'd need to report the sale of the house. 

One of the main requirements for this exclusion is that the home you sold was your main home for two or more years in the five years leading up to the sale.  If you haven't lived there since 2013, this requirement wouldn't appear to have been met.  However, the TurboTax interview process will help you determine whether your home sale is taxable or not.

Please see the TurboTax FAQ "Is the money I made from a home sale taxable?" below, and IRS Publication 523, Selling Your Home, for more information.

https://ttlc.intuit.com/replies/3300213

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1 Reply
JohnW15
Intuit Alumni

Do I have to report the sale of a house overseas that I built and lived during my work there between 2009 - 2013?. DoI get the house profit deduction of 250k/500k?

Based on what you're stating, it doesn't sound like you'll be eligible for the $250K/$500K exclusion from income, and you'd need to report the sale of the house. 

One of the main requirements for this exclusion is that the home you sold was your main home for two or more years in the five years leading up to the sale.  If you haven't lived there since 2013, this requirement wouldn't appear to have been met.  However, the TurboTax interview process will help you determine whether your home sale is taxable or not.

Please see the TurboTax FAQ "Is the money I made from a home sale taxable?" below, and IRS Publication 523, Selling Your Home, for more information.

https://ttlc.intuit.com/replies/3300213
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