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Level 2
April 10, 2022

Gain on Sale of home

  • April 10, 2022
  • 1 reply
  • 7 views

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?

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    1 reply

    Level 3
    April 12, 2022

    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.