Reporting the sale of your personal residence on a tax return.

Part one of this two-part video series covered how up to $500,000 of gain on a personal residence and be excluded from taxable income, how a personal residence is defined, and how gain on the sale of a residence is calculated. This video shows how to report the gain (or exclusion of gain), on a tax return, showing how to complete a Sale of Home Worksheet and how to transfer the figures from that worksheet to a tax return. 0:00 Introduction 0:49 Overview 1:36 Scenario 2:23 Completing the Sale of Home Worksheet 4:06 Completing Form 8949 and Schedule D 5:15 Conclusion ADDITIONAL RESOURCES AND INFORMATION: IRS Publication 523 "Selling Your Home" (contains the Sale of Home Worksheet): https://www.irs.gov/pub/irs-pdf/p523.pdf IRS Form 8949 "Sales and Other Dispositions of Capital Assets": https://www.irs.gov/pub/irs-pdf/f8949... IRS Schedule D "Capital Gains and Losses": https://www.irs.gov/pub/irs-pdf/f1040... IRS Form 1099-S "Proceeds from Real Estate Transactions": https://wwwlirs.gov/irs-pdf/f1099s.pdf Investopedia "Reducing or Avoiding Capital Gains Tax on Home Sales": https://www.investopedia.com/ask/answ... Image and video sources: Wikimedia Commons Storyblocks.com The image of "Gregory" was generated by thispersondoesnotexist.com (stability.ai) and any resemblance between this image and any person, living or dead, is coincidental and not intentional. No other artificial intelligence was used to research, write, animate, voice, or edit this video Intro Music: "Bluesy Vibes" - Doug Maxwell - YouTube Creator Music Outro Music: "Modern Attempt" - Track Tribe under license from YouTube Creator Music DISCLAIMER: This video is for educational and informational purposes only. It is not intended to render tax advice or financial advice for individual situations. If you have questions regarding your particular situation, please consult with a qualified tax or financial professional.