I did indeed sell it December 28, 2021. It was my home since 2007. Sold for 115,000 less realtor fees. Do I need to report this?
Yes you can report it under Sale of Home .
To determine gain or loss, you’ll need the closing documents from the original purchase of the house you sold and the closing statement for the sale of the house. So if you purchased the house for $189,000 and sold it for $225,000 the gain would be $36,000
Definitely report the sale even if you did not make any money.
IRS gets a copy of Form 1099-S. If you don’t report the sale, IRS will probably send a notice with the assumption you owe tax on $115,000. It’s better to include the sale on your return now to avoid having to deal with IRS later.
A loss on the sale of a personal residence is not deductible.
Here’s how to report the sale of a personal residence in TurboTax:
Be sure to check the box that asks if you received Form 1099-S.
If this is not your main home, you may be able to deduct a loss if it’s an investment property.
If you live somewhere other than Missouri, you may have to file a nonresident MO return to report the sale.