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June 1, 2019
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Which version should I use. I bought a new home before I sold my old home of less than 2 years? I made a small profit. I'm over 65, retired. What is exclusion?

  • June 1, 2019
  • 1 reply
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Best answer by Coleen3

Premier contains Schedule D for reporting the sale of a home. If you owned and lived in the place for two of the five years before the sale, then up to $250,000 of profit is tax-free.

For detailed information please see this link:

https://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/Tax-Aspects-of-Home-Ownership--Selling...

1 reply

Coleen3Answer
Employee
June 1, 2019

Premier contains Schedule D for reporting the sale of a home. If you owned and lived in the place for two of the five years before the sale, then up to $250,000 of profit is tax-free.

For detailed information please see this link:

https://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/Tax-Aspects-of-Home-Ownership--Selling...