I am trying to report the sale of a second home. The instructions say to enter "sold second home" in the search bar and follow the "Jump to" link, but no such link appears. Is there another way for me to get to the Schedule D (Form 1040), Capital Gains and Losses and Form 8949, Sales and Other Dispositions of Capital Assets so I can report this sale?
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To enter an investment sale other than from a brokerage account (1099-B), follow the steps below.
Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales
On the next screen, click Yes
On the next screen, click No
On the next screen, choose Second Home and continue with the section until it completes.
To enter an investment sale other than from a brokerage account (1099-B), follow the steps below.
Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales
On the next screen, click Yes
On the next screen, click No
On the next screen, choose Second Home and continue with the section until it completes.
I divorced last year and sold my half of the house to my ex-wife at a loss. How/where do I report this?
You don't. Assuming your home was your personal residence and not a rental property/investment property, when you sell your home, or in your situation, part of it for a loss, such loss is considered a personal loss and is not deductible on your tax return. Thus, there is no need to report this loss on your federal return. The situation might be different had you sold your share of the home at a profit, in which case you may have to report any gain on the sale; however, part or all of the gain might be exempt if you had met the requirements for excluding the capital gain. However, based on your situation, and given what appears to be a personal loss, there is nothing to report.
I purchased and installed turbotax Premier disk. Where can I find Schedule D (form 1040) to enter Capital Gains and Losses?
Use the following steps to enter the details of your investment sales to be reported on Schedule D:
I just want to access Schedule-D so I can complete my taxes.
I assume you are using the online version of TurboTax, otherwise you could use the Forms option in the desktop version of TurboTax to bring up schedule D. In the online TurboTax, you can't make entries directly on schedule D. You need to report investment sales as follows to make entries on schedule D:
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