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June 1, 2019
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We sold our primary residence and meet all three criteria to be exempt from capital gains tax. Are there additional forms we should have received or is it sufficient to say that we do not have capital gains?

  • June 1, 2019
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Best answer by LeeM

You may not receive any forms and, if you meet the criteria, you do not have any capital gains from that transaction. 

You may receive a Form 1099-S in the future but lenders do not always send them out. 

However, as long as you meet the qualifications, you do not have to report the sale of that home if the gain from selling your home is less than $250,000 filing single (or $500,000 if married filing jointly)

1 reply

LeeMAnswer
Employee
June 1, 2019

You may not receive any forms and, if you meet the criteria, you do not have any capital gains from that transaction. 

You may receive a Form 1099-S in the future but lenders do not always send them out. 

However, as long as you meet the qualifications, you do not have to report the sale of that home if the gain from selling your home is less than $250,000 filing single (or $500,000 if married filing jointly)