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jdajaski
New Member

I bought my home in 2011 for $256K and sold in 2018 for $325K. Why is turbo tax telling me I don't qualify for the capital gains exemption?

 
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2 Replies

I bought my home in 2011 for $256K and sold in 2018 for $325K. Why is turbo tax telling me I don't qualify for the capital gains exemption?

First if you did not get a 1099-S then you do not need to mention the sale at all.... remove it.


But if you did get a 1099-S for the sale you must answer all the questions correctly when entering the sale info ... pay attention to the days owned and lived in section.

jdajaski
New Member

I bought my home in 2011 for $256K and sold in 2018 for $325K. Why is turbo tax telling me I don't qualify for the capital gains exemption?

thank you.  I just figured out that i don't need to report it.  Odd that when i do complete the questions, Turbo Tax calculates it wrong and says i do have a capital gain.  I'll delete.  Thank you!

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