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I sold a second home in 2018 that I lived in as my primary residence for 3 out of the last 5 years. How do I apply the capital gains tax exclusion in Turbotax?

 
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1 Reply
Hal_Al
Level 15

I sold a second home in 2018 that I lived in as my primary residence for 3 out of the last 5 years. How do I apply the capital gains tax exclusion in Turbotax?

Since you qualify for the exclusion, you do not need to enter the sale, at all, unless you got a form 1099-S (check your closing documents).

Even if you got a 1099-S, TurboTax can handle it being reported without being taxed.

In TurboTax (TT), enter at:

- Federal Taxes tab 

 - Wages & Income

Scroll down to:

-Less Common Income

     - Sale of Home


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