Gift of equity TBD and reported on 709. 1099-S will report the 2020 sale 100k lower than our original cost basis (2016). We cannot deduct the loss because of sale to a family member. In the interview, TurboTax does not seem to (?) ask or allow for this ‘family’ differentiation and is allowing the loss to be reported and deducted. How should this be handled within the tax software? Thank you.
