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Pelorus
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Sale of second home at loss but not deductible. TT carries loss thru in error. What to do?

I sold a second home in 2021 at a loss.  TT (Premier, desktop) carries the loss thru to my 1040 even though the IRS does not allow for deduction of losses from second homes.  What is the solution?  A "workaround" proposed by others is to just record the transaction as "breakeven", no gain/no loss.

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Sale of second home at loss but not deductible. TT carries loss thru in error. What to do?

"workaround" proposed by others is to just record the transaction as "breakeven", no gain/no loss.

 

 

that's a good solution as any  or you can show loss and then use code L to adjust loss to zero

 

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