Publication 523 Partial Exclusion

[Jack Faysash]

Hello everyone! I’m looking to get a quick sanity check on my understanding of the IRS publication 523. My wife and I will be moving from Texas to California as part of a work related move. We will be selling our primary residence, which we will have owned for 18 months and lived in for 14 months at the time of sale. With that said, I believe we should be able to exclude up to $291k of profit on the property sale (which would more than cover us in total profit). From my research, I would need to fill out form 8949 with the details of the sale, then mark “H” in column f and then enter my profits to be excluded in column g as a negative amount. I would then reflect my input on form 8949 onto form 1040 schedule D. Does all of this sound correct? And can all of this be done using TurboTax? Thanks!