turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

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

I bought and sold a home in 2019 (sold in April, bought in December), I entered sale of home information, where do I enter purchase of home info?

 
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.

2 Replies

I bought and sold a home in 2019 (sold in April, bought in December), I entered sale of home information, where do I enter purchase of home info?

You do not enter the purchase of a home.  If you had any mortgage interest, property tax, loan origination fees or private mortgage insurance you paid in 2019, that is what you enter.

 

 

 

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).

**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.**
RobertG
Expert Alumni

I bought and sold a home in 2019 (sold in April, bought in December), I entered sale of home information, where do I enter purchase of home info?

You don't need to report the purchase of a home on your return.

 

You can deduct home mortgage interest, private mortgage insurance, loan origination fees (“points”) that you paid in 2019 and property tax on the new home if you itemize.

 

 

 

 

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

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question