Thank you, that is helpful. A note to TurboTax: When I follow the instructions for sale of a second home, and enter the details of the investment transaction, in the field for "Total Amount Paid", this is evidently the cost basis or the adjusted cost basis. This is vague in your presentation. When I open the question mark, it brings up a discussion about "What's Cost Basis and How is it Determined?" Below that are examples of every scenario EXCEPT Second Home Property Sold. It would be helpful for Turbo Tax to add this option to the list of situations, since you led me here but did not include how to itemize or include qualifying purchase costs or qualifying capital improvements WITH the purchase price (cost basis) to arrive at an adjusted cost basis for this field. Thanks for listening.
