I sold a home and bought another. Can I file that form with my other tax stuff through this site

TiredandRetired
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Home sale

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  • TriciaD
    TriciaD FreeTaxUSA Agent Posts: 3

    Hello TiredandRetired,

    You can report the sale of a main home in our software by choosing the Income menu, then selecting "Sale of Main Home" under Uncommon Income.

    Most expenses from the purchase of a home are not deductible in the year of the purchase. However, mortgage interest, loan points, real estate taxes, and PMI can typically be deducted. To enter information (you should receive Form 1098 with the information), go to the Deductions/Credits menu and select Homeowner Expenses (1098) screen.

    These IRS publications will have helpful information regarding the sale of a home and mortgage deductions:

    https://www.irs.gov/newsroom/important-tax-reminders-for-people-selling-a-home

    https://www.irs.gov/newsroom/tax-benefits-for-homeowners

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