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In TurboTax Online, under the search microscope in the upper right hand corner of the screen, enter 'sale of second home'.
Click on 'Jump to sale of second home'. The sale is recorded as the sale of an investment. Or you may follow these steps.
Click on Federal down the left side of the screen.
Thanks for the reply; however, this doesn’t allow me to show a loss on the inherited property. It’s the “2nd home” that flags as not allowing a loss. This is not like a beach house as a 2nd home….it was inherited 8 months earlier and I had a formal appraisal to establish the cost basis
You can choose the Land(or other investment purpose) option for the type of property sold and the loss will be allowed. That is assuming there was not any personal use of the property.
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