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myers-kary
New Member

Premier upgrade

i was told i had to upgrade to premier to figure out capital gains. turns out all i needed to know was taht i had to make $250000 on a house sale to qualify. i would have never chosen it if i knew that. that information was not given to me ahead of time.
3 Replies
Texas Roger
Level 15

Premier upgrade

You appear to be referring to whether or not you must enter the sale of your home on a tax return. If you qualify for the up to $250,000 ($500,000 if MFJ) of capital gains exclusion, you may not need to include the sale on your tax return. However, there are situations where it must be included even if the capital gains are less than the exclusion.

You must enter the sale on your tax return using Premier if you rented out the home at some point, you claimed a home office deduction, or you received a Form 1099-S for the sale of the home.


myers-kary
New Member

Premier upgrade

This information was not presented to me. I did none of those things, but was forced to upgrade to Premier without this information.
Texas Roger
Level 15

Premier upgrade

Each version of TurboTax serves two purposes. It provides the forms necessary to file certain things and provides information necessary to determine what you need to file or don't need to file.
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