Question on FL federal capital gains..

[spartanusm]

I sold my previous home I purchased in 2018 in July of this year (2025). I reside in FL and I know that I will be open to taxation on federal capital gains for the sale and my question is this...

My profits did not exceed the $250,000 as I am a single filer and I lived in the house the entire time I owned it, never rented it and was my primary residence the entire 7 years. Will I get the 1099 form when it comes time to file? Am I correct in from the little that I do understand from what I've read that since I did not make more than the $250k in profits I won't have to pay any taxes on the federal capital gains for FL? This is the first time going through this and I am so unsure and am having anxiety over this. Any help is appreciated. Thank you.  - Dave

[xmasbaby0]

Living in Florida has nothing to do with this issue.   Florida has no state income tax; you only need to file a federal tax return.

SALE OF HOUSE

If your gain was more than  $250,000 filing Single, or more than $500,000 filing Married Filing Jointly the sale must be reported on your tax return.  Whether you re-invested the gain in to another house is irrelevant.  If you  have a Form 1099-S go to Federal>Wages and Income>Less Common Income>Sale of Home (gain or loss)

If you owned and lived in the home as your primary residence for at least 2 of the last 5 years on the date of the sale, you do not have to report the home sale if the gain is less than $250K filing Single, or less than $500K filing Married Filing Jointly (and you both owned and lived in the home for at least 2 years).

• If you are using online TT, you need Premium software to report the 1099-S