I sold my house in 2017 and I entered on turbotax ok as 1099-s , but where do i enter the house I bought right after that in 20017?

yoopti · ‎June 6, 2019

IsabellaG · ‎June 6, 2019

There is no place to enter your purchase. You report the sale of your home, and if you qualify you can elect to exclude the gain on the sale, up to $250,000 ($500,000 for joint returns). Purchasing a new residence doesn't have anything to do with it.

In the past, you could defer the gain on the sale of your principal residence if you replaced it with a more expensive house. That law was replaced, and now you just exclude the gain without considering your new house.

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View solution in original post

IsabellaG · ‎June 6, 2019

There is no place to enter your purchase. You report the sale of your home, and if you qualify you can elect to exclude the gain on the sale, up to $250,000 ($500,000 for joint returns). Purchasing a new residence doesn't have anything to do with it.

In the past, you could defer the gain on the sale of your principal residence if you replaced it with a more expensive house. That law was replaced, and now you just exclude the gain without considering your new house.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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I sold my house in 2017 and I entered on turbotax ok as 1099-s , but where do i enter the house I bought right after that in 20017?