Sold your home?

If you have sold your home/primary residence, you will need to submit the form 1099-S that you received at the closing.

 

You will also need to let Kevin know the date that you purchased the home and the purchase price.

 

In addition, you should include a list of all major expenses renovations that you made while you owned the home. This will help to offset the capital gain.

 

For single filers, you are given up to a 250K capital gain exclusion.

For married filers, you are given up to a 500K capital gain exclusion.