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tcamacho1
New Member

I sold my home in 2020, where do I add this information?

 
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2 Replies

I sold my home in 2020, where do I add this information?

To enter the sale of a personal residence in TurboTax:

  1. Type home sale in Search in the upper right
  2. Select Jump to home sale
  3. Enter your information
Hal_Al
Level 15

I sold my home in 2020, where do I add this information?

The capital gain on the sale of your primary home is not taxable (up to $250K, $500K married). To be eligible you must have lived in and owned the home for at least 2 out of the 5 year prior to sale. You do not even need to report it on your tax return, unless you got a tax document, usually a 1099-S. The 1099-S may have been included in your closing documents, instead of arriving in the mail, in Jan. or Feb. of the following year.

 

In TurboTax (TT), enter at:
- Federal Taxes tab (Personal in  Home & Business)

 - Wages & Income

Scroll down to:

-Less Common Income

     - Sale of Home

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