Questions & Answers

Sale of Main Home

Menu Path: Income > Uncommon Income > Sale of Main Home

The sale of your main home does not need to be reported on your tax return unless one of the following applies:

  1. You cannot exclude all of your gain.
  2. You received a Form 1099-S for the sale of your home.
  3. You acquired your home through a like-kind exchange in the past five years.
If you do need to report the sale of your home, enter it on the Sale of Main Home screen.

Here are situations that would require you to report the sale of your home on your tax return:
  1. You received a Form 1099-S even if you can exclude all the gain from the sale of your home.
  2. You have a gain of more than $250,000 ($500,000 if married or qualifying surviving spouse) on the sale of your home.
  3. You lived in your home as your main home for less than two years, and you do not meet any of the exceptions for excluding the gain on the sale of your home.
  4. You acquired your home through a like-kind exchange in the past five years.

The sale of a vacation home or second home would be reported on the Stocks or Investments Sold screen. Menu Path: Income > Common Income > Stocks or Investments Sold (1099-B)

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