If I don't have to include the sale of my home in my taxes, should I delete it from the wages & income page?

[PaulaM · Accepted solution]

Yes, don't include the sale if you are eligible to exclude the gain.

You may qualify to exclude from income all or part of any gain from the sale of your primary residence if you meet ownership and use tests. This means for the 5-year period ending with the sale of the home, you lived in it as your main home and you owned it for 2 years.

If you meet both tests, you may exclude up to $250,000 ($500,000 on joint returns) of gain from your income, and you would not report it on your return.

Do not report the sale of your main home on your tax return unless:

• You have a gain and do not qualify to exclude all of it,
• You have a gain and choose not to exclude it, or
• You have a loss and received a Form 1099-S.

Sale of main home 

IRS pub 523