turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Ask the Experts All About the W-4! >> Event happening TOMORROW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

yusheen
Returning Member

Do I need to report the home sell in the tax return, if gain exclusion applies?

Hi there,

 

I lived in my previous home from 2018 to 2022, and sold it in 2023. The gain exclusion applied when I signed the selling agreement, and I never received a 1099-s. Do I need to report it in the tax return? I cannot find a place in the turbotax online to do that.

 

Thank you!

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
SharonD007
Expert Alumni

Do I need to report the home sell in the tax return, if gain exclusion applies?

You don't have to report the gain from your home sale if all of the following apply:

 

  • Your gain from the sale was less than $250,000 ($500,000 if Married Filing Jointly)
  •  You owned and occupied the home for at least 2 of the last five years
  • You haven't used the exclusion in the last 2 years.

Refer to the TurboTax article Tax Aspects of Home Ownership: Selling a Home.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
SharonD007
Expert Alumni

Do I need to report the home sell in the tax return, if gain exclusion applies?

You don't have to report the gain from your home sale if all of the following apply:

 

  • Your gain from the sale was less than $250,000 ($500,000 if Married Filing Jointly)
  •  You owned and occupied the home for at least 2 of the last five years
  • You haven't used the exclusion in the last 2 years.

Refer to the TurboTax article Tax Aspects of Home Ownership: Selling a Home.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies