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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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‎April 1, 2020
3:18 PM
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