How Can I Access the Sale of Main Home Worksheet in ProWeb?

By using the following instructions, you can gain access to the Sale of Main Home Worksheet in ProWeb:

Go to the Main Menu of the Tax Return
From the menu, go to the Federal Section
Proceed to the Income Section
Select Capital Gain and Losses (Schedule D)
Then select Sale of Main Home Worksheet

Enter the date on which the home was bought together with the initial purchase price
Enter the date on which the home got sold together with the selling price
Insert any depreciation permitted
Enter the total number of days within the previous five years in which the property was the main home of the taxpayer
Enter the total number of days within the previous five years that the property was owned by the taxpayer and their spouse.

6. Adjustments - Enter every expense incurred from selling that were related to the sale of the home. Expenses from selling include advertising costs, real estate commissions, legal fees as well as other fees or cost of selling the home.

7. General Adjustments - Enter every amount that either raises or lowers the basis of the home. This includes the fees for improvements and additions, settlement fees and costs for closing together with all other increase/decrease to the home basis.

Note: This is not tax advice. It is a guide on how to enter a Sale of Home into the Taxx Savage Program.

More Information:

Publication 523 - Selling Your Home

Form 8949 Instructions

Schedule D Instructions