Question

Deduction

Forum|Forum|5 years ago
May 3, 2021
1 reply
0 views

My husband and I bought our house in Sept 27,2018 and sold our house in May 4, 2020 lived in it less than the two years. I am con fused about the capital gain part on my turbo Tax. We have made some home improvements. The money that we made from the sell of our home we put it towards the new house. So how do I record this on Turbo Tax

Is there a number that I can call and talk to someone directly.

thank You Kathy

TurboTax Deluxe Online

Critter-3

If it is your personal primary home:

Enter your sale of your primary residence (which may require an upgrade in TurboTax), please follow these steps:

Once you are in your tax return (for TurboTax Online sign-in, click Here), click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
Next click on “Wages & Income” ("Personal Income" in TurboTax Home & Business)
Next click on “I’ll choose what I work on”
Scroll down the screen until to come to the section “Less Common Income”
Choose “Sale of Home (gain or loss)” and select “start’
You will want to use the "Easy Guide" to determine the adjusted basis on this home