I sold my home at a gain. Do I need to report this?
Article ID: IAS10344
You should report gains from a home sale. TurboTax will figure out if the gain is taxable or not.
You can exclude up to $250,000 of gain ($500,000 if you are married filing jointly) if:
- You owned the home;
- It was your main home for two years or more of the five year period ending on the sale date; and
- You did not exclude gain from the sale of another home during the two year period ending on the sale date.