I sold my house in 2019. I had spent 4 of the last 5 years in the house as my primary residence. When I add it into TurboTax, it tells me I must pay capital gains (or rather I "don't qualify for the exclusion of the capital gains"). I am no where near the max capital gains limit for filing jointly. I would like to add it in as it was a transaction for 2019 and I received a 1099S form. However, I do not want to pay taxes for something that I should not.
What is wrong with TurboTax in this situation.
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I was able to delete the entire record and reenter it. It now is excluding my capital Gains.
check that you entered all the information on the home sale worksheet correctly. then check the worksheet part IV where the exclusion is calculated.
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