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Get your taxes done using TurboTax
You need TurboTax Premier to report the sale of a second home.
To report the sale :
- Go into the Wages and Income section of your return,
- Scroll down to Investment Income.
- Select Stocks, Mutual, Other
- Answer No to the question "Did you get a 1099-B"?
- On the screen Tell us about this sale, Click on I'll enter one sale at a time, boxes drop down.
- Enter Second home in the description box
- Enter the amount reported on the 1099-S in as Sale proceeds.
- Enter the cost basis ( how much you paid for the property plus capital improvements plus selling expenses).
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‎February 1, 2022
9:53 AM