Solved: "Tell us about the Purchase of your Home". Is that referring to the purchase of the home i sold, or the purchase of the new home i just bought? It's not clearly stated.
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"Tell us about the Purchase of your Home". Is that referring to the purchase of the home i sold, or the purchase of the new home i just bought? It's not clearly stated.

 
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Employee Tax Expert

"Tell us about the Purchase of your Home". Is that referring to the purchase of the home i sold, or the purchase of the new home i just bought? It's not clearly stated.

It would be about the purchase of the home you sold, to figure out if you have any taxable gain on the sale. The IRS doesn't require any information when you first purchase a home, it's only when you sell it that they care.

See this answer from TurboTax PatriciaV for information about the sale of your personal residence, because if you qualify to exclude the entire gain on the sale, and you didn't receive a 1099-S reporting the sale to the IRS, then you don't need to report the sale at all.

https://ttlc.intuit.com/replies/4995158

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Employee Tax Expert

"Tell us about the Purchase of your Home". Is that referring to the purchase of the home i sold, or the purchase of the new home i just bought? It's not clearly stated.

It would be about the purchase of the home you sold, to figure out if you have any taxable gain on the sale. The IRS doesn't require any information when you first purchase a home, it's only when you sell it that they care.

See this answer from TurboTax PatriciaV for information about the sale of your personal residence, because if you qualify to exclude the entire gain on the sale, and you didn't receive a 1099-S reporting the sale to the IRS, then you don't need to report the sale at all.

https://ttlc.intuit.com/replies/4995158

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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