TurboTax FAQ
TurboTax FAQ
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How do I report the sale of my home (principal residence)?

Information about the sale of your principal residence should be entered in the Income section of TurboTax.

 

 

Instructions for the online edition of TurboTax

 

If you’re preparing a single return:

  1. In the upper-right area of TurboTax, select Find.
  2. In the Find window, type “Principal.”
  3. Select Principal Residences from the search results, then select Go.
  4. On the Sale of your Principal Residence step, select Sale of principal residence under your name, then select Continue.
  5. Enter information related to the sale in the appropriate fields, then select Continue.
  6. On the Disposition to a spouse or partner step, answer the question(s), then select Continue.
  7. On the Designation of a property as a Principal Residence step, fill out the fields, then select Continue.
  8. On the Sale of Principal Residence Summary step, select Continue.

 

If you’re preparing your and your spouse’s/partner’s returns together:

  1. In the upper-right area of TurboTax, select Find.
  2. In the Find window, type “Principal.”
  3. Select Principal Residences from the search results, then select Go.
  4. On the Sale of your Principal Residence step, select Sale of principal residence under the name of whoever owned or co-owned the property, then select Continue.
  5. On the Who disposed of the property? step, answer the question, then select Continue.
  6. On the Sale of your Principal Residence step, enter information related to the sale in the appropriate fields, then select Continue.
  7. If both you and your partner co-owned the property, skip this step and go to step 8. If only one of you owned the property, on the Disposition to a spouse or partner step that appears, answer the question(s), then select Continue.
  8. On the Designation of a property as a Principal Residence step, fill out the fields, then select Continue.
  9. If you and your partner co-owned the property for the same amount of time or if only one of you co-owned the property, skip this step and go to step 10. If you and your spouse/partner co-owned the property for different lengths of time, after the Designation of a property as a Principal Residence step reappears with questions for your partner, fill out the fields, then select Continue.
  10. On the Sale of Principal Residence Summary step, select Continue.

 

 

Instructions for the CD/download edition of TurboTax

 

Instructions for the CD/download edition of TurboTax (EasyStep method)

 

If you’re preparing a single return:

  1. In the upper-right area of TurboTax, select Find.
  2. In the Find window, type “Principal.”
  3. Select Principal Residence (not Principal Residences) from the search results, then select Go.
  4. On the Sale of your Principal Residence step, select Sale of principal residence under your name, then select Continue.
  5. On the <Name>, Sale of your Principal Residence step, enter information related to the sale in the appropriate fields, then select Continue.
  6. On the Disposition to a spouse or partner step, answer the question(s), then select Continue.
  7. On the Designation of a property as a Principal Residence - Federal step, answer the question, then select Continue.
  8. On the Sale of your Principal Residence Summary step, select Continue.

 

 

If you’re preparing your and your spouse’s/partner’s returns together and both of you co-owned the property:

  1. In the upper-right area of TurboTax, select Find.
  2. In the Find window, type “Principal.”
  3. Select Principal Residence (not Principal Residences) from the search results, then select Go.
  4. On the Sale of your Principal Residence step, select Sale of principal residence under both your names, then select Continue.
  5. On the Who disposed of the property? step, answer the question, then select Continue.
  6. On the <Name>, Sale of your Principal Residence step (where “name” is your name), enter information related to the sale in the appropriate fields, then select Continue.
  7. On the Designation of a property as a Principal Residence - Federal step, answer the question, then select Continue.
  8. On the <Name>, Sale of your Principal Residence step (where “name” is your partner’s name), enter information related to the sale in the appropriate fields, then select Continue.
  9. On the Designation of a property as a Principal Residence - Federal step, answer the question about your spouse/partner, then select Continue.
  10. On the Sale of your Principal Residence Summary step, select Continue.

 

 

If you’re preparing your and your spouse’s/partner’s returns together and only one of you owned the property:

  1. In the upper-right area of TurboTax, select Find.
  2. In the Find window, type “Principal.”
  3. Select Principal Residence (not Principal Residences) from the search results, then select Go.
  4. On the Sale of your Principal Residence step, select Sale of principal residence under the name of whoever owned the property, then select Continue.
  5. On the <Name>, Sale of your Principal Residence step, enter information related to the sale in the appropriate fields, then select Continue.
  6. On the Disposition to a spouse or partner step, answer the question(s), then select Continue.
  7. On the Designation of a property as a Principal Residence - Federal step, answer the question, then select Continue.
  8. On the Sale of your Principal Residence Summary step, select Continue.

 

 

Instructions for the CD/download edition of TurboTax (Forms method)

  1. From the menu at the top of TurboTax, select View, then select Find Form.
  2. In the window that opens, in the Keyword to search for field, type “principal residence.”
  3. Select PRWS – Principal Residence designation worksheet from the results in the Forms box, then select OK.
  4. On the Principal Residence Designation Worksheet, enter information about the sale in the appropriate fields.

 

 

 

 

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