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gehlinger
New Member

Does anyone have a fix for selling your home and it's not calculating the tax free profit? I made approximately $200K, but it's saying I don't qualify?

 
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2 Replies

Does anyone have a fix for selling your home and it's not calculating the tax free profit? I made approximately $200K, but it's saying I don't qualify?

Did you live in and owned the home for at least two years in the five year period on the date of sale?

 

Did you sell another home less than two years from the date of sale of the current home?

 

Go back through the sale of home section and review your answers -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Less Common Income
On Sale of Home (gain or loss), click the start or update button

Vanessa A
Expert Alumni

Does anyone have a fix for selling your home and it's not calculating the tax free profit? I made approximately $200K, but it's saying I don't qualify?

Is it telling you why you didn't qualify?

 

Go back and double check your answers to be sure you do qualify.  To qualify the following must apply:

  • You lived in your home 2 out of the last 5 years
  • You did not take the home sale exclusion in the past 2 years
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