Generally, property held for personal use is a capital asset. If you're referring to the loss on your personal second home, the loss from the sale or exchange of that property is not deductible.
- You can deduct a loss relating to personal-use property only if it results from a casualty or theft.
To enter that sale of an inherited second home in TurboTax Online: see Where do I enter the sale of a second home, an inherited home, or land on my 2020 taxes?
To enter sale of a second home if you're using the CD\Download version, click on TurboTax CD/Download.
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