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If you work through the interview on sale of a residence, TurboTax will compute the exclusion. Look under the wages and income tab for less common income, then sale of home.
I would only report the sale if:
A closing agent can get an affidavit or statement from you that the sale meets the requirements for exclusion and, if so, not send a Form 1099-S reporting the sale. If the gain is fully excludible and you don't get a Form 1099-S, there is no reason to report the sale on your tax return. If you do need to report it, use the following sequence:
If you work through the interview on sale of a residence, TurboTax will compute the exclusion. Look under the wages and income tab for less common income, then sale of home.
I would only report the sale if:
A closing agent can get an affidavit or statement from you that the sale meets the requirements for exclusion and, if so, not send a Form 1099-S reporting the sale. If the gain is fully excludible and you don't get a Form 1099-S, there is no reason to report the sale on your tax return. If you do need to report it, use the following sequence:
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