MarilynG1
Expert Alumni

Get your taxes done using TurboTax

No, it would not be correct. 

 

Since your home was rented to the buyer for only a few days, you don't need to make any entries in the Rental section.

 

If your home was never a rental prior to the sale, you don't need to report the sale at all, unless you don't qualify for the Home Sale Exclusion or you received a 1099-S. 

 

If you want to report the rental income you received, you could report it as 'Other Income'. 

 

A loss on the sale of your personal residence is not deductible. 

 

Sales Expenses are only claimed for income-producing Business Property, or to offset a Capital Gain if you don't qualify for the Home Sale Exclusion. 

 

Click this link for more info on how to calculate Capital Gain on Home Sale

 

 

 

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