Help - Capital Gains on Sale of 2nd home as non-resident
I am using TT Premier with filing for 2022 taxes. I am a working resident in PA and sold 2nd home in state of South Carolina.
As non SC resident, I sold 2nd home last year, based on advise from CPA in SC, I prepaid both Feds and SC est capital gains taxes (his estimate of income) using a 1040ES form, (I did not own home for more than 8 months in 2022 and do have to pay any capital gains.)
Using Premier, when entering in the Investment Income section "Stock Mutual Funds and other" , (I did not having a 1099B or S), Step #1 - I entered in date sold, a) sale price and B) cost/other basis (-) $$ (b. Original purchase price of home), as prompted by a TT advisor on phone, choosing "short term Box C as holding period term.
Moving on to next entry, (under advise of TT adviser), I entered Federal and State Tax (SC) $$$ CG $$ that I prepaid. (though it noted being on missing 1099?)
Moving on, next page, noted "Not employee stock", It ask me for any other less common cost adjustments applying? Yes, 1st line, "Sale price did not include all fees of selling expenses" (those "cost basis" fees of buying and selling home w/ any investments of $$$ related construction upgrades to home for sell of home) I entered these cost there.
Onto final screen as "Here's your sales not reported on 1099B" Problem is, I do not think this the correct way as I would think entering of all costs for costs basis should be in the initial entry as shown in Step #1?? Any advise?? Also, my state(s) PA and SC are a mess write now. I have $14 to PA (This is ok as I should owe PA nothing for sale of home) Yet, TT has SC owing me the taxes BACK, that I prepaid as capital gains income! ($5700) . I'd love to take their money back, but something tells me not good idea. : > )
Help appreciated. PC
