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DUCSK
Returning Member

how to report on sale of primary property in abroad

Situation is ... sold my primary property where my husband and I lived in last 5 years. How do we report this?

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4 Replies

how to report on sale of primary property in abroad

If it is your personal primary home:

Enter your sale of your primary residence (which may require an upgrade in TurboTax), please follow these steps:

  1. Once you are in your tax return (for TurboTax Online sign-in, click Here), click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
  2. Next click on “Wages & Income” ("Personal Income" in TurboTax Home & Business)
  3. Next click on “I’ll choose what I work on”
  4. Scroll down the screen until to come to the section “Less Common Income”
  5. Choose “Sale of Home (gain or loss)” and select “start’
  6. You will want to use the "Easy Guide" to determine the adjusted basis on this home
DUCSK
Returning Member

how to report on sale of primary property in abroad

I own a condo in US which I rent, but I own a house where I live and work oversea. Is this house where I live now consider as a primary residence?

how to report on sale of primary property in abroad

where you generally live is considered your primary residence.

 

how to report on sale of primary property in abroad

I own a condo in US which I rent, but I own a house where I live and work oversea. Is this house where I live now consider as a primary residence?    Yes it is ... the condo is a rental so it is not personal use property. 

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