Am I required to attach schedule D if the gain for the sale of my home can be totally excluded under section 121?

The profit was 2000 , so it can be totally excluded . Do I have to include a schedule D showing the sales price and then mentioning the exclusion ?

San Bernardino, CA -

Attorney Answers (2)

Curtis Lamar Harrington Jr

Curtis Lamar Harrington Jr

Tax Lawyer - Long Beach, CA
Answered

If this item is discovered 5 years from now and assigned a 6 year statute of limitations and you have to do an audit will you be ready? Are you willing to risk this for the sake of a 0.2 oz piece of paper?

Is there some reason that you DON'T want the 3 year statute of limitations to start running?

Are you actively trying to provoke an audit?

over a 0.2 oz sheet of paper?


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Curt Harrington
Certified Tax Specialist -- State Bar of California Board of Legal Specialization
Electrical-Chemical-Mechanical Patent (Intellectual Property) Attorney
(562) 594-9784
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Curt Harrington Patent & Tax Law Attorney Certified Tax Specialist by the California Board of Legal... more
Bruce Givner

Bruce Givner

Tax Lawyer - Los Angeles, CA
Answered

No. But why not do so, as the learned Mr. Harrington has already advised?

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