Question

Does selling my house in 2017 and filing a capitol gains/loss qualify for itemizing?

Forum|Forum|6 years ago
June 6, 2019
1 reply
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I need to know if I will be itemizing my tax form if I sold my house in 2017.

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Employee

No, you will not be itemizing. The sale of a capital asset, including your home is filed on Schedule D and has nothing to do with itemized deductions on Schedule A

You cannot claim a loss on the sale of your home. But you also do not have to claim a capital gain of less that ($250,000 ($500,000 Married), on the sale, if you lived in the home, as your principal residence, for at least 2 out of the 5 years. prior to sale