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Did you sell a home? If so, was it your primary residence, second home or a rental property?
The information relating to the sale of a home is entered in the Less Common Income section of TurboTax. If using TurboTax online, from the Your income and expenses screen, scroll down to Less Common Income. Click on the drop-down arrow to reveal the options if necessary. Then click Start across from Sale of Home. Enter your information.
If using TurboTax CD/download, the process is similar except you begin by selecting the Wages & Income tab. Then scroll down to Less Common Income.
If you sold your main home in 2022, TurboTax will determine if you need to report the sale on your return. Generally, profits of up to $250,000 ($500,000 on a joint return) do not need to be reported to the IRS.
Note: You cannot deduct a loss from the sale of your main home.
@kkurosky
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