Form 2119 - Sale Of Your Home - 1997

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2119
Sale of Your Home
OMB No. 1545-0072
Form
97
Attach to Form 1040 for year of sale.
Attachment
Department of the Treasury
See separate instructions.
Please print or type.
20
(99)
Sequence No.
Internal Revenue Service
Your first name and initial. If a joint return, also give spouse’s name and initial.
Last name
Your social security number
Present address (no., street, and apt. no., rural route, or P.O. box no. if mail is not delivered to street address) Spouse’s social security number
If you are filing this
form by itself and not
with your tax return,
City, town or post office, state, and ZIP code
see instructions on
page 3.
Part I
Gain on Sale
1
/
/
1
Date your former main home was sold. If sold after May 6, 1997, see page 3
mo.
day
yr.
2
Have you bought or built a new main home?
Yes
No
3
If any part of either main home was ever rented out or used for business, check here
and see page 3.
4
Selling price of home. Do not include personal property items you sold with your home
4
5
5
Expense of sale (see page 4)
6
6
Subtract line 5 from line 4
7
7
Adjusted basis of home sold (see page 4)
8
8
Gain on sale. Subtract line 7 from line 6. If zero or less, stop and attach this form to your return
For sales before May 7, 1997, you must go to Part II or Part III, whichever applies. But if line 2 is “No,” go to line 9.
For sales after May 6, 1997, you must go to Part IV on the back to figure any exclusion. But if you qualify and elect to
use the rules for sales before May 7, 1997, go to Part II or Part III, whichever applies.
9
If you haven’t replaced your home, do you plan to do so within the replacement period (see page 1)?
Yes
No
If line 9 is “Yes,” stop here, attach this form to your return, and see Additional filing requirements on page 1.
If line 9 is “No,” you must go to Part II or Part III, whichever applies.
Part II
One-Time Exclusion of Gain for People Age 55 or Older—By completing this part, you are electing to take
the one-time exclusion (see page 2). If you are not electing to take the exclusion, go to Part III now.
10
Who was age 55 or older on the date of sale?
You
Your spouse
Both of you
11
Did the person who was 55 or older own and use the property as his or her main home for a total of at least 3
years of the 5-year period before the sale? See page 2 for exceptions. If “No,” go to Part III now
Yes
No
12
At the time of sale, who owned the home?
You
Your spouse
Both of you
13
Social security number of spouse at the time of sale if you had a different spouse from the
13
one above. If you were not married at the time of sale, enter “None”
14
Exclusion. Enter the smaller of line 8 or $125,000 ($62,500 if married filing separate return).
Then, go to line 15
14
Part III
Adjusted Sales Price, Taxable Gain, and Adjusted Basis of New Home
15
15
If line 14 is blank, enter the amount from line 8. Otherwise, subtract line 14 from line 8
If line 15 is zero, stop and attach this form to your return.
If line 15 is more than zero and line 2 is “Yes,” go to line 16 now.
If you are reporting this sale on the installment method, stop and see page 4.
All others, stop and enter the amount from line 15 on Schedule D, line 4 or line 11.
16
16
Fixing-up expenses (see page 4 for time limits)
17
17
If line 14 is blank, enter amount from line 16. Otherwise, add lines 14 and 16
18
18
Adjusted sales price. Subtract line 17 from line 6
19b
/
/
19a
Date you moved into new home
b Cost of new home (see page 5)
20
20
Subtract line 19b from line 18. If zero or less, enter -0-
21
21
Taxable gain. Enter the smaller of line 15 or line 20
If line 21 is zero, go to line 22 and attach this form to your return.
If you are reporting this sale on the installment method, see the line 15 instructions and go to line 22.
All others, enter the amount from line 21 on Schedule D, line 4 or line 11, and go to line 22.
22
22
Postponed gain. Subtract line 21 from line 15
23
Adjusted basis of new home. Subtract line 22 from line 19b
23
2119
For Paperwork Reduction Act Notice, see page 6 of instructions.
Cat. No. 11710J
Form
(1997)

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