Q. I sold it for more than I bought it - but less than the current tax appraisal - is it a gain or a loss?
A. You have a long term capital gain.
In TurboTax (TT), enter at:
- Federal Taxes tab (Personal in Home & Business)
- Wages & Income
Scroll down to:
-Investment Income
-Stocks, mutual funds, Bonds, Other (Real estate is other)
Answer no, when asked if you got a 1099-B. then follow the interview.
