This wouldn't be picked as a second home? I put the numbers in and it seems like a large loss as I made $28361.03 when I sold the home via realtor on 6/15/2016 and the added principal payments totaled $13913.40 for the previous years (total amount of $42274.43). House was purchased for $149000 on 8/6/20015. This is the summary:
Capital Loss Carryover from 2015 $0
Total Gains/Losses Before Carryover $0 -$106,726
Net Losses -$106,726
Capital Loss used in 2016 What's This? $3,000
Loss Carried Forward to 2017 What's This? -$103,726
Is this correct?
