I have the exact situation. My dad died, my brother and I sold the inherited home within a month. We never lived in it, it remained vacant until the sale. However, on TTonline when I get to the part where I enter the 1099 S information, the only real estate choices are 2nd home, land (personal use) and land (investment use). If I choose second home, it does not allow me to show a loss for sales expenses. Do I choose Land (investment use) or second home. It sounds like I should not use 2nd home based on this online feed that I am responding to.
Also it places it on schedule D as long term even though I only owned the property for 1 month. Is long term correct? It did not ask me "date acquired", it only asked "date sold".
