Originally Posted by Propwash55
Anyone's help would be appreciated. LAST year we sold our home and bought a fifth wheel and truck for an adventure. I still work full time and we live in our trailer full time. Any help with appropriate forms or wisdom greatly appreciated. Thanks for your time.
You have received all good advice, you are subject to certain exclusions from gains realized on the sale of your personal residence with restrictions. These gain exclusions, depend on several facts. One, being you (and wife) age at the time of sale.
I concur that buying tax software and walking through the steps, will insure you handle the transaction properly. Regarding the "forms", It is the legal responsibility of the persons (i.e. lawyer, realestate professional) to generate and report the transaction to the Internal Rev Service, the required documents. However, you are ultimately responsible, regardless of those other individuals, to properly report the transaction.
In short, buy the tax program, walk through the Q and A steps, and it will spit out all the necessary forms to complete your return. Hope that clarifies it just a little bit better.