Question

House Sale capital gains

Forum|Forum|4 years ago
March 27, 2022
1 reply
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I'm using TurboTax Deluxe and notice my parents sale of house capital gain is below $500,000 on my computer only. When I print out the federal tax return from Turbo tax the capital gain is above $500,000 on Schedule D long term capital gains sheet and on form 8949 (all capital gains for the sale of the house for a couple is taxed above $500,000).

Looking closer it appears the print out does not deduct the cost of the sale of the house but on my laptop it does deduct the cost of the sale of the house.

Shouldn't the print deduct the cost of the sale of the house which would lower the capital gains made from the sale of the house?

Is this a software defect which needs to be fixed?

Thanks

E

ed9999Author

Nevermind, I figure out how to fix it. There are two places where you can place cost of sale. When I moved it to where I placed the home improvements at it then included the cost of sales in the printed federal return.