Any capital gains on a residential property that was not used as your primary residence or as a rental will be taxed as long term gains if you owned the property for 1 year or longer. There is no offset for the gains.
To enter an investment sale -
Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Under Investment Income
On Stocks, Cryptocurrency, Mutual Funds, Bonds, Other, click the start or update button
Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales
