What if I sold my home in 2016? Does it have any effect on how I file?

tbearrod · ‎May 31, 2019

MargaretL · ‎May 31, 2019

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.

https://ttlc.intuit.com/replies/3300213

View solution in original post

MargaretL · ‎May 31, 2019

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.

https://ttlc.intuit.com/replies/3300213