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I sold my house (primary residence) in June 2020 and moved into my husband's house when we got married. How do I reflect that in my 2020 taxes?

 
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2 Replies

I sold my house (primary residence) in June 2020 and moved into my husband's house when we got married. How do I reflect that in my 2020 taxes?

in the search box type "home sale" (no quotes) a window should open up that lists home sale wks

double click on it  - then enter the address and click on add form

Hal_Al
Level 15

I sold my house (primary residence) in June 2020 and moved into my husband's house when we got married. How do I reflect that in my 2020 taxes?

Q.  I sold my primary residence in 2020. Do I have to report that on my 2020 taxes?

A. Simple answer: No. 

 

The capital gain on the sale of your primary home is not taxable (up to $250K). To be eligible you must have lived in and owned the home for at least 2 out of the 5 year prior to sale and not have sold another primary home in the last 2 years.

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.

If you did get a 1099-S, TurboTax can handle the capital gain exclusion.  Enter as described, in the other reply.

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