Do I need to claim the Sale of my home?

[lbradfield77449]

Do I need to claim the Sale of my home that was my residence for 22 years?

[xmasbaby0]

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

[KrisD15]

It depends, 

There is a capital gain exclusion where you may not need to enter the sale. 

You can enter the sale in TurboTax and the program will tell you if it needs to be reported. 

Basically, if you owned and lived in the home 2 of the last 5 years, you can exclude up to 250,000 gain or 500,000 if Married Filing Jointly. 

HERE is an IRS link with more details 

HERE is a TurboTax link with more details