MarilynG1
Expert Alumni

Get your taxes done using TurboTax

Enter it in TurboTax as the Investment Type Other.  I tested this with a Cost Basis less than Sales Proceeds, to generate a loss situation. 

 

You should get a screen as per screenshot below.  The transaction then doesn't show on Schedule D. 

 

Capital assets held for personal use that are sold at a loss generally do not need to be reported on your taxes unless specifically required such as if you received a  Form 1099-S for the sale of real estate. The loss is generally not deductible, as well.

 

Here's more info on How to Enter Sale of Second Home, Inherited Home or Land and Guide to Schedule D. 

 

@JStaxer 

 

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