My wife and I sold our home in 2019 which we had lived in continuously for 11 years and made a small profit of approximately $7,000. Since we are not required to report the profit up to $500,000 according to IRS Schedule D instructions, I don't understand why Turbo Tax Premier is showing that we owe a capital gain of about $1000?
Ken Thurman
did you ever take deprection on your house?
if you did, there are takes that must be paid on the recpatue of the deoreciation.
if not you have entered something incorrecly on the house sale
we can't see your return so all that can be done is to offer suggestions.
if the above doesn't give you a reason, you have to upgrade to allow a pro to review your entries.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
