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I just sold and purchased a owner occupied residence. Are…

I just sold and...

I just sold and purchased a owner occupied residence. Are there specific items that are included due to these sales?

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I just sold and purchased an owner occupied residence. Are there specific items that are included due to these sales?

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Answered in 2 minutes by:
3/15/2018
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 33,332
Experience: Taxes, Immigration, Labor Relations
Verified

On the sale transaction - we need to verify

- if you are eligible to exclude the gain

- if yes - if that gain is less than $250k for a single person

- if yes - did you receive reporting form 1099S ?

- if no - you do not need to report that sale transaction on your tax return.

The purchase transaction is not reported.

Let me know if you need any help with verification.

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Lev
Lev, Tax Advisor
Category: Tax
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Experience: Taxes, Immigration, Labor Relations
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