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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
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- Re: Gain on Sale of home
Gain on Sale of home
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Kellie1
Level 1
04-09-2022
08:45 PM
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MFJ owned the home 1 year 8 months and had to move for spouses job. They lived in the house the entire time with no business use or rental activity. I am using ProConnect and it is not calculating a partial exemption of the gains. Have a missed something?
1 Comment 1
margowalkercpa
Level 3
04-12-2022
12:44 PM
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Did you fill in the "Reduced Maximum Exclusion Worksheet" section of the sale of home worksheet? It starts at line 20 and has entries for the number of days (of months if check box for months is marked). These entries will calculate the reduced maximum exclusion for you.
