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fabrooks
New Member

non-installment sale of primary home to family member

Non-installment sale of primary residence to family member. I enter data showing sale being completely paid during the tax year ( a non-installment  sale)  it shows up as an error wanting a link to a form 6252. If i put in a link, the error does not go away. I do i enter this sale?

 

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2 Replies
MaryK4
Employee Tax Expert

non-installment sale of primary home to family member

Are you entering this as Sale of Home (gain or loss) under Less Common Income?  If you qualify for the exclusion of gain from the sale of your primary home, you would not need to report the sale.  Regardless, follow these steps to Delete a Form and see if that clears the error: How do I delete a tax form in TurboTax Desktop? or How do I view and delete forms in TurboTax Online?

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non-installment sale of primary home to family member

Did you get a 1099-S at closing, or if not, was the gain in excess of the exclusion? Then it would need to be reported. You may need to file a gift tax return if the difference between the Fair Value and sales price was over $19,000. Also, you'll need to provide the family member with your tax basis, because that is what they'll have to use as their tax basis should they sell in the future. They do not get to use the Fair Value on the date of sale.  

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