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If I some one sold their primary residence to purchase another main residence , should it filed with the tax return? If so, what form should be used?

Level 1
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Level 8

Did they receive a 1099-S?

Do they meet the exclusion rules?


Level 15

Was the sale for no more than $250k ($500k MFJ)?  If so, was a certification submitted to the buyer/agent to ascertain your client's eligible to exclude the gain in full under §121?

If the answer is yes to both, your client shouldn't expect to receive a 1099-S and the sale wouldn't have to be reported unless your client decides to forego the exclusion on this former home in anticipation of taking an exclusion on a new principal residence.

If the answer to either is no or your client receive a 1099-S in spite of the above, the sale will need to be reported on F.8949 (and F.4797 if it was formerly rented or used for business).  See this article for more info: https://proconnect.intuit.com/community/help-articles/help/entering-a-sale-of-home-with-section-121-...

Still an AllStar