In TurboTax Desktop Premier I was able to report a sale of a second home as a personal loss not deductible from ordinary income.
- If you go into the Wages and Income section of your return,
- scroll down to investment Income.
- Select Stocks, Mutual, Other
- Did you get a 1099-B, no
- Tell us about this sale.
- At the screen, Select any less common adjustments that apply, Any loss from this sale is not deductible... is an option.
- This is personal use property (like a vacation home) is an option.
IRS Publication 544 under Personal-use property states:
Loss from the sale or exchange of property held for personal use is not deductible.
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