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Level 1
March 28, 2025
Question

sale of a personal resident and the excusion

  • March 28, 2025
  • 1 reply
  • 5 views

I have a client that sold her house in 2024.  She can take the exclusion of $250,000 but ProConnect does not show a worksheet.

Can someone help me to entry the correct information.

 

thank you

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    1 reply

    Level 2
    March 28, 2025

    Thank you for you question. I am having the same question and don't find any help on this issue.

    My client sold his resident and wants to use the capital gain for his new home at a later year.

    sjrcpa
    Level 15
    March 28, 2025

    "and wants to use the capital gain for his new home at a later year."

    Huh?

    The sale qualifies for the $250K/500K exclusion or it doesn't.

    Buying another house later in the year is irrelevant.

    The more I know the more I don’t know.
    IRonMaN
    Level 15
    March 28, 2025

    I don't know, but I'm waiting for my spin so I can have Vanna turn over the missing "l".

    But as to the question, I don't think you really need a worksheet to report the exclusion.

    Slava Ukraini!