Reporting Sale of Primary Residence without a 1099-S

[tahomagic]

I sold my primary residence in December of 2019.  We did not receive a 1099-S, because the sale did not qualify for reporting purposes, based on questions answered in a "Certification for No Information Reporting on the Sale or Exchange of a Principle Resident" form.  How should I complete TurboTax?  Should I identify the sale or not?  Not sure if we still have all the paperwork from over 30 years ago.

[ColeenD3 · Accepted solution]

You may not need to include it. If you can exclude all the gain, see below.

Reporting Gain or Loss on Your Home Sale

Determine whether you need to report the gain from your home.   You need to report the gain if ANY of the following is true.

• You have taxable gain on your home sale (or on the residential portion of your property if you made separate calculations for home and business) and don’t qualify to exclude.
• You received a Form 1099-S. If so, you must report the sale even if you have no taxable gain to report.
• You wish to report your gain as a taxable gain even though some or all of it is eligible for exclusion. You may wish to do this if, for example, you plan to sell another property that qualifies as a home within the next two years, and that property is likely to have a larger gain. If you choose to report, rather than exclude, your taxable gain, you can go back later and undo that choice by filing an amended return, but only within 3 calendar years after the year of sale.

Sale of main home

@tahomagic