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US Canadian Dual Citizen living in Canada. If I sell my house and after taking the 250k exemption am I required to report this on my1040 tax return if no tax payable?
If your gain falls within the limits, it looks like you don't even have to report the sale.Do not report the 2012 sale of your main home on your tax return unless:
You have a gain and do not qualify to exclude all of it,
You have a gain and choose not to exclude it, or
You received Form 1099-S.