Missing Settlement Statement (turbotax Asking Questions)

[Lenell]

We moved from the state of Indiana to Tennessee. We sold our home and Turbotax is asking questions from our 1991 'Settlement Statement'.  The mortgage company that gave us our loan is no longer in business and we can't find our copy.  We refinanced our home in 1994 and we have the 1994 'Settlement Statement'. How should we handle this ?

[JulieH1 · Accepted solution]

Did you get a 1009-S for the sale of the home? Was it ever rented?

If you did not, then the closing agent determined that you met the requirements to exclude the gain on the home and you can delete or skip the home sale questions.

If you have a capital gain from the sale of your main home, you may qualify to exclude up to $250,000 of that gain from your income, or up to $500,000 of that gain if you file a joint return with your spouse.

If you made more than $500,000 and you need to report the gain,  you will need to do your best to enter the purchase price, points, etc.  Maybe your mortgage company, property or tax appraiser has some information (although the ones where I practice do not keep it online that long).

Good luck.

[Lenell]

JulieH1, Thanks !  !  !  No, we did not receive a 1009-S. We made less than $22,000.00 from the sales of the house.  I guess I can skip these questions.  Thanks again  !  !  !

[JulieH1]

Yeah!!!!