Do I need to report the sale of my main home?
You do not need to report the sale of your main home unless:
- You received a Form 1099-S even if all the gain is excludable.
- You have a gain of more than $250,000 ($500,000 if married or qualifying surviving spouse) on the sale of your home.
- You lived in your home as your main home for less than two years, and you are not eligible to exclude the gain on the sale of your home.