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February 20, 2025
Question

Home sale and home purchase in the same year

  • February 20, 2025
  • 1 reply
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I sold a home and purchased a home, both in 2024.  How do I report both so that I can claim the deductions for the purchase?

 

    1 reply

    February 20, 2025

    you report the home sale if you got a 1099-S or if the profit was more than $250K if single or $500K if married filing jointly, There is no deduction or reporting for the purchase.