Does My Mom Need to Report the Sale of Her Home to the IRS?2023-04-072023-04-07https://www.halllawgroup.com/wp-content/uploads/2024/12/new-law-office-of-jeffrey-hall-pc-logo-2025.jpgLaw Office of Jeffrey Hall, PChttps://www.halllawgroup.com/wp-content/uploads/2024/12/new-law-office-of-jeffrey-hall-pc-logo-2025.jpg200px200px
Yes. She needs to report the capital gain on the sale. However, she can exclude the first $250,000 of the gain, so the sale and reporting may or may not result in any taxes.