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Sold Vacation Home
I sold a vacation home in 2022 that we have had for 18 years. In TT Premier there is not a place for the second home only the main home. I can enter the sale there and answer no to the questions about living in the home and it allows me to input the permanent improvements and addition we added. And the resulting figure is shown as a long term capitol gain. If I input it in as an other investment sold there is not a place to show these improvements so the the basis is increased. Sold a second home in 2015 and did not have this issue. Which is correct?
‎January 30, 2023
12:17 PM