I sold my home last year. We made money but owned the home for 7 years do we have to claim it

[Coleen3]

The rules for including the sale of your primary home are below.

If this house was your primary residence -

You do not need to enter the sale of your primary residence if:

• You never used your primary residence as a rental
• You have a loss on the sale of your home (Personal capital losses are not reported on your tax return)
• You did not receive a Form 1099-S and
• You meet the home gain exclusion (see below)

You can take the gain exclusion as long as you considered the home your "primary residence" for 2 of the last 5 years. If you have a capital gain from the sale of your main home, you may qualify to exclude up to $250,000 of that gain from your income. You may qualify to exclude up to $500,000 of that gain if you file a joint return with your spouse. See  Sale of Your Home for more information on the exclusion.