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Investors & landlords
I did try to follow your ANSWER EMAIL INSTRUCTION yesterday, but it was not rejected and requested to remove as follows:
You would need to enter it as a second home, since it was not your primary, nor did it count as a rental for the last few years. You will be asked if it was used as a rental in the past and you can enter all relevant data.
These are entered in the investment section of TurboTax. Follow these instructions:
1. Open your return in TurboTax.
(To do this, sign in to TurboTax and select Take me to my return button.)
2. In the search box, search for sold second home (use this exact phrase) and then select the "Jump to" link in the search results.
3. Answer Yes on the Did You Sell Any Investments in 2017? screen.
• If you land on the Here's the investment sales info we have so far screen, select Add More Sales.
1. Answer No to the 1099-B question.
2. On the next screen, select Second Home (choose this also for inherited homes) or Land. Select Continue.
3. Follow the on-screen instructions to completion.
After I completed enter information it showed
REMOVE THIS SALE
REPORT THE SALE IN THE SALE OF BUSINESS PROPERTY TOPIC, WITHIN THE BUSINESS INCOME AND EXPENSES SECTION, IF YOU NO LONGER HAD THIS BUSINESS OR RENTAL IN 2018
THEREFORE, YOU SAID TO REPORT ON 2ND HOME DOES NOT WORK, I AM NOT SURE WHETHER I SHOULD REPORT ON
THE SALE OF BUSINESS PROPERTY??? ANYONE PLEASE GIVE ME ADVICE !
You would need to enter it as a second home, since it was not your primary, nor did it count as a rental for the last few years. You will be asked if it was used as a rental in the past and you can enter all relevant data.
These are entered in the investment section of TurboTax. Follow these instructions:
1. Open your return in TurboTax.
(To do this, sign in to TurboTax and select Take me to my return button.)
2. In the search box, search for sold second home (use this exact phrase) and then select the "Jump to" link in the search results.
3. Answer Yes on the Did You Sell Any Investments in 2017? screen.
• If you land on the Here's the investment sales info we have so far screen, select Add More Sales.
1. Answer No to the 1099-B question.
2. On the next screen, select Second Home (choose this also for inherited homes) or Land. Select Continue.
3. Follow the on-screen instructions to completion.
After I completed enter information it showed
REMOVE THIS SALE
REPORT THE SALE IN THE SALE OF BUSINESS PROPERTY TOPIC, WITHIN THE BUSINESS INCOME AND EXPENSES SECTION, IF YOU NO LONGER HAD THIS BUSINESS OR RENTAL IN 2018
THEREFORE, YOU SAID TO REPORT ON 2ND HOME DOES NOT WORK, I AM NOT SURE WHETHER I SHOULD REPORT ON
THE SALE OF BUSINESS PROPERTY??? ANYONE PLEASE GIVE ME ADVICE !
June 1, 2019
1:34 PM