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S
sjy0000
Level 1
June 3, 2019
Question

How do I report a loss on the sale of real property?

  • June 3, 2019
  • 3 replies
  • 19 views
No text available

3 replies

I
Irene2805
Level 15
June 3, 2019
What type of real property?  land?  second home?
D
dtonuzi44
Level 2
April 15, 2020

Where do I report the gain/loss from the sale of my second home?

Critter
Critter
Level 15
April 15, 2020

Tto enter this sale of a second home in TurboTax Online or Desktop, please follow these steps:

  1. Once you are in your tax return, click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
  2. Next click on “Wages & Income” ("Personal Income" in TurboTax Home & Business)
  3. Next click on “I’ll choose what I work on” (jump to full list)
  4. Scroll down the screen until to come to the section “Investment Income”
  5. Choose “Stocks, Mutual Funds, Bonds, Other” and select “start’ (or “update” is you have already worked on this section)
  6. The first screen will ask if you sold any investments during the current tax year (This includes any sale of real property held as an investment property so answer “yes” to this question)
  7. Since you did not receive a 1099-B, answer “no” to the 1099-B question
  8. Choose type of investment you sold - select Second Home
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