Need help with 0% Capital Gains Rate on Sale of Home I purchased my home in 1994 and sold it in 2012. The gain on the sale exceeds the $250,000 exemption I qualify for as a single filer.
Last year I earned less than $35,000 so I expect to qualify for the 0% Capital Gains Rate. However, Turbotax is showing that I owe tax on the sale.
The income I earned was Line 12 Business (Self-employment) Income, and not Line 7 Wages, salaries income. Does this matter? What else would be affecting this? Line 44 tax rate is 10%, so I should qualify for the 0% Capital Gains rate, no? Why isn't Turbotax generating this? |