Skip to main content
February 9, 2022
Question

Got married this year. husband sold his home mid year, how do we account for the 1098 when I already have our house entered?

  • February 9, 2022
  • 1 reply
  • 0 views
we only currently have one home .  I owned my home and my husband owned his home, he sold his and moved in to mine

1 reply

LeonardS
February 9, 2022

Form 1098 is an informational form used to prepare your tax return.  You do not enter Form 1098 directly into your tax return as you would with other forms I.E. W-2.  Instead, you use the information on the form, if required, to complete your tax return. 

 

If your husband lived in his home for at least 24 months in the five years before the sale he is eligible to claim the capital gain exclusion. 

 

To report the sale of your husbands home in TurboTax follow these steps:

    1. Log into your Turbotax account.
    2. Select the Income & expenses tab.
    3. Scroll down to less common income select more.
    4. On the line sale of home (gain or loss) select start.
    5. On the next screen Sale of Your Main Home select yes.
    6. Follow the prompts to enter your sale information.

[ Edited 02/09/2022 | 1:25PM pst ]

@aj2ay1ae1

 

     
**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"