https://ttlc.intuit.com/community/investing/discussion/second-home-purchase/01/1204384#M351 <P>We purchased an investment home in January 2019 and sold it in December 2019. How am I to proceed with reporting this on my taxes. I was told that it would be considered as income because we owned it for less then&nbsp;one year. We did not live in the house and or rent it out.</P><P>&nbsp;</P><P>I am looking for advise as to now to move forward with my tax prep.</P> Fri, 21 Feb 2020 22:54:03 GMT msloan777 2020-02-21T22:54:03Z https://ttlc.intuit.com/community/investing/discussion/second-home-purchase/01/1204384#M351 <P>We purchased an investment home in January 2019 and sold it in December 2019. How am I to proceed with reporting this on my taxes. I was told that it would be considered as income because we owned it for less then&nbsp;one year. We did not live in the house and or rent it out.</P><P>&nbsp;</P><P>I am looking for advise as to now to move forward with my tax prep.</P> Fri, 21 Feb 2020 22:54:03 GMT https://ttlc.intuit.com/community/investing/discussion/second-home-purchase/01/1204384#M351 msloan777 2020-02-21T22:54:03Z https://ttlc.intuit.com/community/investing/discussion/re-second-home-purchase/01/1204772#M352 <P>Yes, any gain on the sale of this home would be taxed as short term capital gain.&nbsp; Since you didn't live in it or rent it out, there shouldn't be any complicating factors from that.&nbsp; Here is a link to Pub 550, Investment Income and Expenses.</P> <P>&nbsp;</P> <P><A href="https://www.irs.gov/pub/irs-pdf/p550.pdf" target="_blank">https://www.irs.gov/pub/irs-pdf/p550.pdf</A></P> <P>&nbsp;</P> Fri, 21 Feb 2020 23:48:07 GMT https://ttlc.intuit.com/community/investing/discussion/re-second-home-purchase/01/1204772#M352 LudwigVan_fan 2020-02-21T23:48:07Z