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Should I report 2018 home sale as rental or 2nd home if rented only 6 months in 3 years as a business. I did not rent and officially closed business in 2017?

 
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Leonard
Intuit Alumni

Should I report 2018 home sale as rental or 2nd home if rented only 6 months in 3 years as a business. I did not rent and officially closed business in 2017?

If you stopped renting your second home in 2017 and used it for personal use since then you will report the sale as a sale of your second home.  In TurboTax enter sale of second home in the find/search box then select Jump to sale of second home in the Top Questions Box.  Follow the prompts to enter your sale information.

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1 Reply
Leonard
Intuit Alumni

Should I report 2018 home sale as rental or 2nd home if rented only 6 months in 3 years as a business. I did not rent and officially closed business in 2017?

If you stopped renting your second home in 2017 and used it for personal use since then you will report the sale as a sale of your second home.  In TurboTax enter sale of second home in the find/search box then select Jump to sale of second home in the Top Questions Box.  Follow the prompts to enter your sale information.

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