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atak24874
New Member

Keeps saying I need Turbo tax premier because of my homesale this year. Home was primary. I lived there for 17 years and I file jointly with spouse.

 
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2 Replies

Keeps saying I need Turbo tax premier because of my homesale this year. Home was primary. I lived there for 17 years and I file jointly with spouse.

If you sold your primary personal residence and you lived in and owned the home for at least two years in the five year period on the date of sale, you do not have to report the sale if your gains are less then the exclusion amounts of $250,000 if filing Single or $500,000 if filing Married Filing Jointly (and both lived in the home for two years).

 

If you had a gain greater then the exclusion amounts then you would have to report the sale. Also, if you received a Form 1099-S for the sale either with a gain or a loss, the sale has to be reported. You will need the online TurboTax Premier or Self-Employed edition to report the sale if you are using the online editions. Make sure that you indicate that you want the sale of the home reported on your tax return.

KatrinaLO
Expert Alumni

Keeps saying I need Turbo tax premier because of my homesale this year. Home was primary. I lived there for 17 years and I file jointly with spouse.

As long as you haven't submitted payment, deducted the TurboTax fee from your refund, or registered your product, you can erase your return and start from scratch in TurboTax Online. If you have done any of these things, you'll need to manually edit your return. Please see the information in this TurboTax FAQ here for assistance with how to clear and start over.

 

If you still need help, you may need to contact customer service directly for assistance. Please see the following information here for more details. 

 

 

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