Do I need to report selling my primary residence if the proceeds were less than $100,000?

[DanielV01 · Accepted solution]

It depends, but probably not.  As long as the sale of the home is your principal residence, lived in it for at least the last 2 years or 3 of the last 5 years, and have never rented out the home, any gain on the home is excluded if it is 250,000 or less (500,000 if you are Married Filing Joint).

However, if you have used it as a rental in the past, there could be an amount of the sale that could be reportable and taxable.  If this is your situation, this FAQ will help you enter your information into TurboTax correctly:  https://ttlc.intuit.com/replies/3388350

But if this was always your home you will not need to enter anything on it.  No form is required to exclude the home sale.

[barbadams]

Thank you for the quick response. The home was primary residence for 3 years and never rented. Thanks again.

[DanielV01]

A pleasure to assist