I sold a house (primary residence, not rental) in 2020. That's the only economic activity I engaged for the entire year. I'm a US citizen that lived in the United States for the entirety of the year 2020. There were no other income, no inheritances, no gifts, no investments, no interests from banks...absolutely 0.

Hence the only tax document I have is the 1099-S from the closing agent.

Now from what I gather, for my situation the only IRS forms I would need to file next year are 1040, 8949, and Schedule D. I would put 0 income on the 1040 and report the home sale on the other two forms.

Can somebody confirm this? Thanks a lot.

  • 3
    Your state may impact this, so it would help to add that in. – Grade 'Eh' Bacon Oct 13 at 14:19
  • Sale of a home at a profit results in taxable capital gains unless a replacement home is purchased within two years, though there is a once-in-a-lifetime exemption of a substantial amount ($250K? $500K if married and neither has used the exemption) that you might be eligible to take advantage of. The numbers from Form 8949 will propagate to Schedule D and Form 1040 and you might not be showing 0 income on 1040 when the dust settles. – Dilip Sarwate Oct 13 at 21:06

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