To report a sale of a second home:
Go to Your 2018 Income Summary.
Go down to Investment Income.
Click Start or Update by Stocks, Mutual Funds, Bonds, Other.
Click either Yes to continue, or + Add More Sales.
Answer Yes or No to Did you get a 1099-B or a brokerage statement for these sales?
Select Second Home on Choose the type of investment you sold.
Fill out Enter Second Home Sale Information.
Select the method for Tell Us How You Acquired This Home.
Depending on your entry on that line, Turbo Tax gathers certain information. Fill out the screens till you get back to the Here's the info we have for these investment sales.Your gain or loss will be figured.
A gain or loss goes on line 13 of Form 1040. You're limited to a 3,000 loss this year, with the remainder being carried over to future years.
To check,
Go to My Account.
Go to Tools.
Go to View Tax Summary.
Go to Preview my 1040.
