In 2024 I sold a second home. I entered the information from the 1099-S into the investments section of Turbo Tax. Using estimated numbers, proceeds were $1,000,000 and cost basis was $800,000 resulting in a gain of $200,000.
The investments section of Turbo Tax correctly shows the gain. However, when I look at my return form 8949 shows the value as -$200,000 in column G. This is a loss and results in no taxes due, which does not appear correct. Form 8949 does list codes EL in column F.
