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Entering Partial Gain of Home Sale to Ensure Exclusion Captured Properly

tccpg289
Level 4

Taxpayer lived in a home for 6 years, rented it out for 2 years, and then moved back into the home.

I am curious of the proper way to enter the home sale figures in the software to ensure they are taxed properly. It will be a partial exclusion based on the total time they lived there.

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2 Comments 2
IntuitMark304
Employee
Employee

There is a Home Sale Worksheet in the software that can help step you through the process of calculating the exclusion allowed in various scenarios.  There is a quickzoom to the worksheet on the Schedule D form for Capital Gains and Losses. 

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Just-Lisa-Now-
Level 15
Level 15

You can link the rental asset to the HomeSale worksheet in the Disposal section of the Asset Entry worksheet.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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