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Deductions & credits
You may have to upgrade, but this is considered an asset and is posted similar to a stock.
You’ll have to use TurboTax Premium to report the sale of a second home,
- Open your tax return
- Click on Federal in the left-hand column,
- Then on Wages & Income
- choose Investments and Savings and click on the down arrow on the right
- Click on Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
- Did you sell any investments?
- yes
- Did you receive a form 1099-B or brokerage statement?
- No
- Select Other (other investment purpose) from the list of investments.
- Follow the TurboTax interview to enter your information.
- If you incur sale expenses, you can subtract them from the proceeds
Where do I enter the foreign tax credit (Form 1116) or deduction?
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March 25, 2025
7:50 AM