turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Is there a first time seller deal when it comes to capital gain taxes?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

Is there a first time seller deal when it comes to capital gain taxes?

No.

There is an exclusion of $250,000 ($500,000 for married) on the capital gains of your primary residence. You must have lived in the home for 2 of the last 5 years.

Here is how you enter in TurboTax:

In Income & Expenses

Scroll to Less Common Income, click show more

Click Sale of Home (gain or loss) and start

Check "yes" you sold your home

Home sale exclusion: Home Sale Exclusion

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies