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No, the sale doesn't necessarily affect your taxes or how you file.
You don’t have to report the sale of your main home on your tax return unless you have taxable gain of more than $250,000 ($500,000 for married filing jointly) or received form 1099-S. Losses on sale of main home are not reported as they are considered personal and not tax deductible.
No, the sale doesn't necessarily affect your taxes or how you file.
You don’t have to report the sale of your main home on your tax return unless you have taxable gain of more than $250,000 ($500,000 for married filing jointly) or received form 1099-S. Losses on sale of main home are not reported as they are considered personal and not tax deductible.
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