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how do I include selling of my house on my taxes?

file taxes for a year as I sold my house for that tax year
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2 Replies

how do I include selling of my house on my taxes?

SALE OF HOUSE

 

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
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
DawnC
Expert Alumni

how do I include selling of my house on my taxes?

If you sold you main home or a primary residence:  

 

  1. Open or continue your return.
  2. Navigate to the sale of home section:
    • TurboTax Online/Mobile: Go to sale of home.
    • TurboTax Desktop: Search for sale of home, and select the Jump to link.
  3. Answer Yes to Did you sell or have your home foreclosed in 2024?
  4. Select Continue on the next screen.
  5. Enter the address of the home you sold on the next screen, and select Continue.
  6. Follow the onscreen instructions.

Where do I enter the sale of a second home, an inherited home, or land on my 2024 taxes?

 

How does selling a home affect my taxes?

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