We sold our home for $249.900 in 2016 but did not purchase a home until 2017. We lived in a hotel for 6.5 months. Do we have to select the sold a home option?

baron_oscar · ‎June 3, 2019

LinaJ2018 · ‎June 3, 2019

Yes, you would still need to report the sale of the home.

To enter the sale of a home in the TurboTax online program:

After sign in, select Pick up where you left off
In the Search box, at the right upper corner, type in sale of home, then press Enter
Select Jump to sale of home
On-screen, Sale of Your Main Home screen, select Yes
On the Sold a Home screen, click Continue to enter your information

You need to report the gain if ANY of the following is true.

· You have a taxable gain on your home sale and don’t qualify to exclude the gain. See Gain exclusion

· 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 the exclusion

LinaJ2018 · ‎June 3, 2019

Yes, you would still need to report the sale of the home.

To enter the sale of a home in the TurboTax online program:

After sign in, select Pick up where you left off
In the Search box, at the right upper corner, type in sale of home, then press Enter
Select Jump to sale of home
On-screen, Sale of Your Main Home screen, select Yes
On the Sold a Home screen, click Continue to enter your information

You need to report the gain if ANY of the following is true.

· You have a taxable gain on your home sale and don’t qualify to exclude the gain. See Gain exclusion

· 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 the exclusion

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