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You You should report the sale of your home on your Federal return, even if the gain qualifies to be excluded. You should do this to document, to the IRS, that you do qualify for the exclusion. Some states have different rules and from your question I can not tell if you owe Capital Gains for your State or for Federal. However, lets make sure you put the sale in the correct place in Turbo Tax, so it is identified as a sale of a personal residence.
The menu path for entering this in TurboTax is as follows:
Go back through all the questions an double check your answers. I hope this works!
You You should report the sale of your home on your Federal return, even if the gain qualifies to be excluded. You should do this to document, to the IRS, that you do qualify for the exclusion. Some states have different rules and from your question I can not tell if you owe Capital Gains for your State or for Federal. However, lets make sure you put the sale in the correct place in Turbo Tax, so it is identified as a sale of a personal residence.
The menu path for entering this in TurboTax is as follows:
Go back through all the questions an double check your answers. I hope this works!
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