Form 2119 (1991) - Sale Of Your Home
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12119
Sale of Your Home
OMB No. 1545-0072
Form
Attach to Form 1040 for year of sale.
Department of the Treasury
Attachment
See separate instructions.
Please print or type.
20
Internal Revenue Service
Sequence No.
Your first name and initial. (If 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
Fill in Your Address
Only If You Are Filing
This Form by Itself
City, town or post office, state, and ZIP code
and Not With Your
Tax Return
Caution: If the home sold was financed (in whole or part) from a mortgage credit certificate or the proceeds of a tax-exempt qualified
mortgage bond, you may owe additional tax. Get Form 8828, Recapture of Federal Mortgage Subsidy, for details.
Part I
General Information
1a
/
/
1a
Date your former main home was sold (month, day, year)
b
Face amount of any mortgage, note (e.g., second trust), or other financial instrument on which
1b
you will get periodic payments of principal or interest from this sale (see instructions)
Yes
No
2
Have you bought or built a new main home?
3
Is or was any part of either main home rented out or used for business? (If ‘‘Yes,’’ see instructions.)
Yes
No
Part II
Gain on Sale (Do not include amounts you deduct as moving expenses.)
4
4
Selling price of home. (Do not include personal property items that you sold with your home.)
5
5
Expense of sale. (Include sales commissions, advertising, legal, etc.)
6
6
Amount realized. Subtract line 5 from line 4
7
7
Basis of home sold (see instructions)
8a
8a
Gain on sale. Subtract line 7 from line 6
If line 8a is zero or less, stop here and attach this form to your return.
If line 2 is “Yes,” you must go to Part III or Part IV, whichever applies. Otherwise, go to line 8b.
If you haven’t replaced your home, do you plan to do so within the replacement period (see instructions)?
Yes
No
b
If “Yes,” stop here, attach this form to your return, and see Additional Filing Requirements in the instructions.
If “No,” you must go to Part III or Part IV, whichever applies.
Part III
One-Time Exclusion of Gain for People Age 55 or Older
(If you are not taking the exclusion, go to Part IV now.)
9a
Who was age 55 or older on date of sale?
You
Your spouse
Both of you
b Did the person who was age 55 or older own and use the property as his or her main home for a total of at
least 3 years (except for short absences) of the 5-year period before the sale? (If “No,” go to Part IV now.)
Yes
No
c
If line 9b is “Yes,” do you elect to take the one-time exclusion? (If “No,” go to Part IV now.)
Yes
No
d
At time of sale, who owned the home?
You
Your spouse
Both of you
e
Social security number of spouse at time of sale if you had a different spouse from the one
above at time of sale. (If you were not married at time of sale, enter “None.”)
9e
f Exclusion. Enter the smaller of line 8a or $125,000 ($62,500, if married filing separate return)
9f
Part IV
Adjusted Sales Price, Taxable Gain, and Adjusted Basis of New Home
10
10
Subtract line 9f from line 8a
If line 10 is zero, stop here and attach this form to your return.
If line 2 is “Yes,” go to line 11 now.
If you are reporting this sale on the installment method, stop here and see the line 1b instructions.
All others, stop here and enter the amount from line 10 on Schedule D, line 2 or line 9.
11
11
Fixing-up expenses (see instructions for time limits)
12
Adjusted sales price. Subtract line 11 from line 6
12
/
/
13b
b Cost of new home
13a
Date you moved into new home (month, day, year)
14a
14a
Add line 9f and line 13b
14b
b
Subtract line 14a from line 12. If the result is zero or less, enter -0-
14c
c
Taxable gain. Enter the smaller of line 10 or line 14b
If line 14c is zero, go to line 15 and attach this form to your return.
If you are reporting this sale on the installment method, see the line 1b instructions and go to line 15.
All others, enter the amount from line 14c on Schedule D, line 2 or line 9, and go to line 15.
15
15
Postponed gain. Subtract line 14c from line 10
16
Adjusted basis of new home. Subtract line 15 from line 13b
16
Sign Here Only
Under penalties of perjury, I declare that I have examined this form, including attachments, and to the best of my knowledge and belief, it is true,
correct, and complete.
If You Are
Your signature
Date
Spouse’s signature
Date
Filing This
Form by Itself
and Not With
(If a joint return, both must sign.)
Your Tax Return
2119
For Paperwork Reduction Act Notice, see separate instructions.
Cat. No. 11710J
Form
(1991)
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