MayaD
Expert Alumni

Get your taxes done using TurboTax

You need TurboTax Premier to report the sale of a second home.

To report the sale :

 

  1. Go into the Wages and Income section of your return,
  2. Scroll down to Investment Income.
  3. Select Stocks, Mutual, Other
  4. Answer No to the question "Did you get a 1099-B"?
  5. On the screen Tell us about this sale, Click on I'll enter one sale at a time, boxes drop down.
  6. Enter Second home in the description box
  7. Enter the amount reported on the 1099-S in as Sale proceeds.
  8. Enter the cost basis ( how much you paid for the property plus capital improvements plus selling expenses).
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