Sale of Home when exclusions apply

[rubycam]

Client sold main home and exclusions apply. How do I fill out the form 8949 (client received Form 1099-S) to reflect proceeds are not taxable?

[rbynaker]

See Form 8949 instructions. In particular, the example in column 3 of page 6 might be helpful:

https://www.irs.gov/pub/irs-pdf/i8949.pdf

See also, "Sale of Your Home" on D-3 of the 1040 Schedule D instructions:

https://www.irs.gov/pub/irs-pdf/i1040sd.pdf

Rick

[TAXNJ]

For good detailed information, see The Tax Book starting at 6-19. “Sale of Principal Residence“

[Kram BergGold]

Check to see if your software has a sale of home worksheet. Mine dies and that makes it easy.