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Deductions & credits
I assume this was not the sale of your primary home, which is treated differently.
In TurboTax (TT), enter at:
- Federal Taxes tab (Personal in Home & Business)
- Wages & Income
Scroll down to:
-Investment Income
-Stocks, cryptocurrency, mutual funds, Bonds, Other (Real estate is other)
Follow the interview. It will go on form 8949, then to Schedule D.
The fact that you used some of the proceeds to pay off another property is irrelevant. The entire gain is taxable.
‎February 10, 2025
5:35 PM