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Cavachon1
Level 2
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  • I signed sellers closing documents today. I believe the closing agent will file a 1099-S, but TurboTax should apply section 121 exclusion and any capital gains ...
    Cavachon1
    Updated Nov 17, 2025
  • Pk, Thank you for your reply. I’m not sure what you mean by the whole building must be transferred for this reg to apply. For clarification, it’s a single-famil...
    Cavachon1
    2
    Updated Nov 17, 2025
  • I was a resident in the home for all the years except for the last year 2024.
    Cavachon1
    Updated Nov 08, 2025
  • the portion that was rented was half of the home with its own separate entrance and facilities – kitchenette and bathroom with shower.
    Cavachon1
    1
    Updated Nov 08, 2025
  • will I be able to apply the 250,000 IRS sales exclusion to the home or to only half of the home or the portion that was not rented?
    Cavachon1
    3
    Updated Nov 08, 2025
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