If this was used for your personal vacations, the loss is considered personal, and is not deductible. You would still have to report the sale in the Investment Income section of TurboTax, but you would not be allowed a loss.
You can report this transaction as a sale of an investment. To report this in TurboTax, please follow these steps:
- Click on Federal Taxes > Wages & Income [In TT Self-Employed: Personal > Personal Income > I'll choose what I work on].
- In the Investment Income section click on the Start/Revisit box next to Stocks, Mutual Funds, Bonds, Other. [See Screenshot #1, below.]
- If you have already entered some investment sales, you will see a screen Here's the investment sales info we have so far. Click on the Add More Sales link. [Screenshot #2]
- If you haven't already entered some investment sales, you will see a screen Did you sell any investments in 2016? Click the Yes box.
- On the screen, Choose the type of investment you sold, mark the button for Everything Else and click Continue. [Screenshot #3]
- On the next screen, enter the sale information. Be sure to enter the net proceeds and mark whether income taxes were withheld or not. [Screenshot #4]
- Continue through the screens, entering the requested information.
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