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I sold and purchased a house in 2016, how do I add that?

 
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Employee Tax Expert

I sold and purchased a house in 2016, how do I add that?

For the home purchase, the deductions that are available to you would be interest, real estate taxes, points and private mortgage insurance. You may have received a Form 1098 for the interest and points. Enter in the Your Home section under Deductions & Credits

For the home sale, if this was your primary home you may not need to enter it all in TurboTax. You may exclude up to $250,000 ($500,000 for married filing joint) of the gain if all requirements are met. See link below.

Second homes and other investment homes would need to be entered in TurboTax under the Investment section.

https://ttlc.intuit.com/questions/1899435-is-the-money-i-made-from-a-home-sale-taxable

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Employee Tax Expert

I sold and purchased a house in 2016, how do I add that?

For the home purchase, the deductions that are available to you would be interest, real estate taxes, points and private mortgage insurance. You may have received a Form 1098 for the interest and points. Enter in the Your Home section under Deductions & Credits

For the home sale, if this was your primary home you may not need to enter it all in TurboTax. You may exclude up to $250,000 ($500,000 for married filing joint) of the gain if all requirements are met. See link below.

Second homes and other investment homes would need to be entered in TurboTax under the Investment section.

https://ttlc.intuit.com/questions/1899435-is-the-money-i-made-from-a-home-sale-taxable

**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