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I don't believe I did, it was my primary residence so bypassing a lot of the tax implications from capital gains. It was my first house sale so I was really exp
by swozey 5y ago
I don't believe I did, it was my primary residence so bypassing a lot of the tax implications from capital gains. It was my first house sale so I was really expecting to companies involved in it that I paid a small fortune to to handle things of that nature, or at least send me documentation to send when I did my taxes. Unless something got lost in the mail I never received any sort of tax docs, which in my obvious-now ignorance might have been very wrong.
I did these taxes in the height of the pandemic in March after being laid off and living out of airbnbs for 3 months so it very well may have just been missed unfortunately. I'm not even sure what they need or who to talk to, I'm just going to mail them everything I have including the Statute stating I don't need to pay capital gains on a primary residence house sale under $500k.
- toast0 5y agoI'm not a tax person, but probably all they need is an amended tax return (1040X) with the sale reported. Grab the instructions for schedule D for the tax year you sold your home, and follow the section for "Sale of Your Home". It says you're only required to report the sale if the gains exceeded the exclusion amount or you received a 1099-S; but I'm guessing the IRS must have received a 1099-S even if you didn't. You might be able to get a copy of that through the IRS Tax Transcript service? They probably don't need a copy of the Statute, but eh. :)
- swozey 5y agoI appreciate this, thank you.
- swozey 5y agoJust as an update, apparently it takes 1-3 months for docs to the IRS to make it to where they're supposed to go. I just got off the phone w/them (took 1hr:45mins to get a person) and found out I only owe $20 after faxing them my house sale docs in November! What a weight off my back..