Taxpayer received a 1099-S for their primary residence.
Have lived in the property for 2/5 years, and file jointly.
In ProSeries, I entered it on the home sale worksheet.
A schedule D AND an 8949 are being generated from ProSeries, and while the exclusion is being applied and there is no tax on the gain, is this approach the correct method? Should I have both a Sch D and 8949?
This discussion has been locked. No new contributions can be made. You may start a new discussion here
You did it correctly as long as i shows no gain.
Yup. You got it right. Basically the goal of filling out the worksheet is to report the sale to the IRS and let them know that the exclusion applies.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.