Sold a primary residence which version of turbo tax do I use

[LindaA]

You'll need TurboTax Premier Online to report capital gains from the sale of your primary home. (You may also use TurboTax Self-Employed or the TurboTax CD/Download software.)

To enter your home sale in TurboTax:

• Continue your return in TurboTax Online. (If your return isn't open, you'll need to sign in and click Take me to my return.)
• Click the drop-down arrow next to Tax Tools (lower left side of your screen).
• Select Tools.
• In the pop-up window, select Topic Search.
• In the I'm looking for: box, type sale of home.
• In the results box, highlight sale of home, then click GO.
• You'll land on Sale of Your Main Home. Follow the onscreen instructions. 

Note: If using the TurboTax CD/Download software, you'll use the Find function and the "Jump to" link (instead of "Tax Tools") to search for "sale of home".

Please see the FAQ below for more information.

Is the money I made from a home sale taxable?     https://ttlc.intuit.com/replies/3300213

[DarylH]

The question didn't specify if capital gains were applicable.  I believe the first $250k for single and $500k for married filing joint for sale of primary residence is tax-free.  If your home sale falls in that range, TurboTax Deluxe would be fine.

[flanaganp11]

i bought my home in 2013 for 310k sold it in 2021 for 730k.  i have over 140k in upgrades and the broker/agent fees were around 40k so i should not have capitol gains.  which turbo tax should i get

[xmasbaby0]

@flanaganp11 

SALE OF HOUSE

If your gain was more than  $250,000 filing Single, or more than $500,000 filing Married Filing Jointly the sale must be reported on your tax return.  Whether you re-invested the gain in to another house is irrelevant.  If you  have a Form 1099-S go to Federal>Wages and Income>Less Common Income>Sale of Home (gain or loss)

If you owned and lived in the home as your primary residence for at least 2 of the last 5 years on the date of the sale, you do not have to report the home sale if the gain is less than $250K filing Single, or less than $500K filing Married Filing Jointly (and you both owned and lived in the home for at least 2 years).

• If you are using online TT, you need Premier or Self-Employed software to report the 1099-S
• .https://ttlc.intuit.com/questions/1901135-i-sold-my-home-at-a-loss-is-this-deductible

[flanaganp11]

i am single and lived in the home the entire time i owned it.  

 i bought the home for 310k and sold for 730k, is it considered no gain because of the 250k and the agent/broker fees and all the upgrades on the home?  

730-310= 420 - 250= 170- 40 (broker/agent sales fees) = 130k - 140k (receipts from upgrades to the home) = -10k.

i dont want to take a loss on the house just want to make sure i get the correct turbo tax program.

i also have relocation costs that my employer did not help me pay for.  which turbo tax do i use for both items above. 

thank you in advance for your help

[xmasbaby0]

If you are using the CD/download you can use any version.   If you are using online TurboTax you need Premier.

The software can walk you through it.   We are not going to figure it all out for you here in the user forum.

As for the relocation costs---sorry----as of the tax laws that changed for 2018 and beyond, W-2 employees cannot deduct moving costs.   Only certain active duty members of the military can deduct moving expenses on a federal return.   Some state laws are different and may allow moving expenses.

https://ttlc.intuit.com/questions/4482873-which-federal-tax-deductions-have-been-suspended-by-tax-re...

[gypsee1]

I sold my home for $253,000 in 2021. With closing costs and realtors fees my final I made $234,000. I have only 1500 in interest income and $22,000 Social security.  I think this should qualify me to not have to pay Capitol Gains but I need to file. Which Turbo tax do I need to buy?

[DaveF1006]

@gypsee1  You will need to be in Turbo Tax Deluxe or higher because of the interest income.