neale
New Member

How do I record the sale of a primary residence that was purchased in 1960? Turbo tax is telling me it has to be between 1972-2018.

 
TurboTaxSusan
Moderator

Getting started

You can use the regular form. The reason why it asks questions about 1971-1982 & 1982 is because that is when the capital gains laws changes. Before 1972 there was no tax on capital gains, and before 1982 it was possible to have each spouse claim a different principal residence. So if capital gains need to be calculated, info specific to those years is needed.