I am married and age 72. We sold our main home after 18 years and made around $100,000.00 profit. Do we have to show this snice the profit is under $500.000.00?
When I check the "learn more" tab, it looks like we are except from reporting it.
We are filing a joint return. We bought a retirement home.
Thanks
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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.
If NONE of the three bullets above is true, you don’t need to report your home sale on your tax return.
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.
If NONE of the three bullets above is true, you don’t need to report your home sale on your tax return.
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