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Sale of second home at loss but not deductible. TT carries loss thru in error. What to do?
I sold a second home in 2021 at a loss. TT (Premier, desktop) carries the loss thru to my 1040 even though the IRS does not allow for deduction of losses from second homes. What is the solution? A "workaround" proposed by others is to just record the transaction as "breakeven", no gain/no loss.
March 9, 2022
3:20 PM