I sold my 2nd home in IL at a loss. I used step-by-step method, there is only one question related to the sale of the property was:
Capital Gains Adjustment
On your federal return, you reported gains from the sale of stock or other property.
Did you acquire any of that property before August 1, 1969?
I have a net gain of stock and mutual funds over the loss of selling the 2nd home. How does it know that the sale was in IL and it was 2nd home and the sale was at loss?
My answer is no because I bought this 2nd house in 2017. Does that all I have to do, TurboTax will automate transfer all information from federal to IL?
V/r,
Diane
