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June 1, 2019
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I did not work last year, but I did sell a house. How do I file? Do I even have to file since I did not have an income?

  • June 1, 2019
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Best answer by Coleen3

It depends which type of house you sold. If it was your personal primary residence see the guidelines below.

If you sold your primary personal primary residence and you lived in and owned the home for at least two years in the five year period on the date of sale, you do not have to report the sale if your gains are less than the exclusion amounts of $250,000 if filing Single or $500,000 if filing Married Filing Jointly (and both lived in and owned the home for two years). 

If it was an inherited home, yes. 

If it was a  Rental property (Schedule E), yes.

If you sold property as a Real Estate Agent and made more than $400 commission, yes.

1 reply

Coleen3Answer
Employee
June 1, 2019

It depends which type of house you sold. If it was your personal primary residence see the guidelines below.

If you sold your primary personal primary residence and you lived in and owned the home for at least two years in the five year period on the date of sale, you do not have to report the sale if your gains are less than the exclusion amounts of $250,000 if filing Single or $500,000 if filing Married Filing Jointly (and both lived in and owned the home for two years). 

If it was an inherited home, yes. 

If it was a  Rental property (Schedule E), yes.

If you sold property as a Real Estate Agent and made more than $400 commission, yes.