Question

Does anyone know what I should do if I sold my home at a profit but under 25000.00 and never received a 1099B

Forum|Forum|2 years ago
April 17, 2024
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TurboTax Deluxe Online

Employee

You meant a Form 1099-S which may be issued for a property sale.

If you sold your primary personal 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 then the exclusion amounts of $250,000 if filing Single or $500,000 if filing Married Filing Jointly (and both lived in the home for two years).