You'll need to sign in or create an account to connect with an expert.
If it was your main home for at least 24 months during the last five years, you will owe no tax (the first 250,000 of profit is exempt). Unless you get a 1099-S you don't even report the sale on your tax return.
If it was your main home for at least 24 months during the last five years, you will owe no tax (the first 250,000 of profit is exempt). Unless you get a 1099-S you don't even report the sale on your tax return.
What if we didn't like in the house since 2010 and we don't have the paperwork from when we bought it in 1984?
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
msd83
New Member
doorway18
Level 2
wildcatgoal
New Member
DRB
Returning Member
greatscott73
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.