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R
roscoe2236
May 12, 2021
Question

House Sale

  • May 12, 2021
  • 1 reply
  • 0 views

I sold a house in Louisiana that i was not renting or living in after hurricane Katrin. Do i have to file the proceeds from the sale of the house as income ? I live in Texas.

1 reply

T
ThomasM125
May 16, 2021

Since you didn't live in the house as your main home for two of the last five years, you will need to report the sale on your tax return if you had a gain on the sale of it. The gain is calculated by subtracting the cost plus improvements of the house from the sale proceeds.

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