If the property given up was owned and used as your home during the 5-year period ending on the date of exchange, you may be able to exclude part or all of the gain. Enter the appropriate input on
The exclusion amount calculated on Sale of Your Home worksheet will be subtracted when figuring the realized gain or loss on Form 8824, line 19. "Section 121 exclusion" and the amount of the exclusion will print on the dotted line next to line 19. The exclusion will not be subtracted if the holding period is less than 5 years.
The amounts calculated on Sale of Your Home worksheet, lines 3 and 4 WILL NOT be added to Form 8824. Appropriate entries for property given up and property received must be made on
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