Sale of Home when exclusions apply

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  • rubycam
    Junior Member
    • Sep 2020
    • 1

    #1

    Sale of Home when exclusions apply

    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
    Senior Member
    • Mar 2019
    • 154

    #2
    See Form 8949 instructions. In particular, the example in column 3 of page 6 might be helpful:



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



    Rick

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    • TAXNJ
      Senior Member
      • Jan 2007
      • 2106

      #3
      For good detailed information, see The Tax Book starting at 6-19. “Sale of Principal Residence“
      Always cite your source for support to defend your opinion

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      • Kram BergGold
        Senior Member
        • Jun 2006
        • 2112

        #4
        Check to see if your software has a sale of home worksheet. Mine dies and that makes it easy.

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