I sold my home in 2020. Lives there as main residence for 14 years. Was sold way under 250k. Do I put anything on my taxes when filing showing sale?

[Opus 17]

even if you lived in the home as your main home and you lived there and owned it for more than two years, you must list the sale on your tax return if any of these conditions is true:

1. you received a 1099-S form at the closing.

2. You ever used the home in business and took a home office deduction.

3. You ever rented part of the home to other tenants.

If you received a 1099 – S form, you must list the sale on your tax return even though no tax will be owed. If you don’t list the sale, the IRS will send you a nasty letter because they also got a copy of the 1099 – S.

If you ever used the home in business or as a rental, then you must pay recapture tax on any depreciation that you took or could’ve taken when you used the home for business, even though you may be exempt from ordinary capital gains tax.

If you list the sale in TurboTax, it will ask you about all of these conditions and if you are not required to report to the sale on your tax return, TurboTax will automatically leave it off. If you know that none of the special conditions apply and that you do qualify for the exclusion, you can skip entering the sale entirely if you prefer.