Buying and selling one investment property with no intent to continue this practice does Not constitute having a business for buying and selling properties.
You report the sale of the property in the Wages & Income section of the TurboTax program under Investment Income.
- 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, 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
