Yes, you have to report it. A second home used as a vacation home is a personal use capital asset. A gain on the sale is reportable income, but a loss is NOT deductible. If this is a rental see I sold my rental property. How do I report that?
Note: You may enter the original cost of the house plus improvements, but TurboTax will not deduct the loss, from your income, since this is a personal use capital asset.
To enter the sale of your Michigan home, follow these instructions: https://ttlc.intuit.com/replies/4241480
