What form do I use to deduct home sales expenses?

[jmbsr14]

Where can I deduct my primary home sales expenses?

[xmasbaby0]

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-

TO ENTER THE SALE OF YOUR PRIMARY HOME

1. Start with Federal 
2. Click on Wages and Income 
3. Select Choose what I work on
4. Scroll down to Less Common Income
5. On Sale of Home (gain or loss), 
6. Click the start or update button

NOTE:   If you have ever used the home as rental property or claimed a home office, you have more information to enter

https://ttlc.intuit.com/turbotax-support/en-us/help-article/homeowner-tax-credits-deductions/selling...

Selling expenses:

Commissions

Appraisal fees

Legal fees

Advertising fees

Home inspections reports

Title insurance

Transfer tax or fees

Geological surveys

Loan origination points paid on behalf of buyer

NOT selling expenses

Mortgage or HELOC payoffs

Rent back costs

Payoffs to creditors

Property tax

HOA fees

[Vanessa A]

You will enter them when you enter your 1099-S.  You will see a question asking for the cost basis and selling expenses.  Enter them there.  The home sale is reported net on form 8949.

[mjckhc]

Hello:

What form or schedule form number or letter do I report selling expenses title, commissions and other selling expenses. How do I report those sellers final closing cost and where.

[Mike9241]

use the home sale worksheet and the adjusted basis of home sold worksheet. This will allow entering details.

if this was not your primary residence for any 2 out of 5 years before the date of sale, it does not qualify for the home sale exclusion. 

[KrisD15]

If you are using TurboTax, enter the sale proceeds, the cost/basis/value and the selling costs. 

If this was your personal residence, enter under

Wages & Income

Less Common Income

Sale of Home (gain or loss)

The gain or loss is reported on Schedule D unless the homeowner's exclusion to capital gain applies and the gain is not reported. 

If this was a rental, enter in the rental section, if a second home, enter under "Investments, Other sale" 

@mjckhc