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I am 77 years old and when I had my taxes filed last year…

I am 77 years...

I am 77 years old and when I had my taxes filed last year the preparer told me I did not need to file a return any more because I did not make enough money. But, in the middle of 2017 I sold my home and purchased another. Does that change things again?

Accountant's Assistant: The Accountant will know how to help. Is there anything else the Accountant should be aware of?

This was a volunteer that helped me last year in my old county. I do not live there ant more and do not have an accountant.

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Answered in 4 minutes by:
4/13/2018
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 33,340
Experience: Taxes, Immigration, Labor Relations
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But, in the middle of 2017 I sold my home and purchased another. Does that change things again?

If that was your primary home at least two years

and your gain is less than $250,000

and your sale transaction is NOT reported on from 1099S

Then

you do NOT have any taxable income from that sale

and that sale transaction is NOT reported on your tax return.

That will not affect your filing requirements - and if otherwise you are not required to file - you still not required.

Let me know if you need any help.

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Customer reply replied 4 months ago
Thank you so much. You were very helpful, again, thank you.

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Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 33,340
Experience: Taxes, Immigration, Labor Relations
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