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How to report sale of second home in Florida on TurboTax?
I purchased this home in 2005 and rented it during certain years until May 2018. This property was sold in 2019. I currently live in California and have been here for over a decade. How do I proceed with reporting the sale of the Florida home on TurboTax so I pay the necessary taxes for the sale of this property? Also, will I have to file a state tax return in Florida even though I live in California?
By the way, I am using the 2019 TurboTax Home & Business version.
Thank you
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Investors & landlords
florida has no state income tax so you don't need to file a return in the state. The home sounds like a second home that was rented from time to time so report it in the sale of home area as you will be able to enter depreciation deductions that were taken in those years.