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CA State tax withholding from the sale of a second home is reported on form CA-593, where is federal tax withheld on the sale reported?

 
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CA State tax withholding from the sale of a second home is reported on form CA-593, where is federal tax withheld on the sale reported?

Federal tax withheld on a home sale?  On what form was this reported?  

CA State tax withholding from the sale of a second home is reported on form CA-593, where is federal tax withheld on the sale reported?

Thats what I am asking. Where is federal income tax withholding on a second home sale reported?

CA State tax withholding from the sale of a second home is reported on form CA-593, where is federal tax withheld on the sale reported?


@mrmrst wrote:

Thats what I am asking. Where is federal income tax withholding on a second home sale reported?


There are no federal income taxes withheld on a the sale of a primary or second home.

You have to report the sale of the second home on a federal tax return.  If using the the TurboTax online editions you would need the Premier edition or higher.

 

To enter an investment sale other than from a brokerage account (1099-B), follow the steps below.

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Wages and Income (Personal Income using Home and Business)
  • Click on I'll choose what I work on (if shown)
  • Under Investment Income
  • On Stocks, Mutual Funds, Bonds, Other, click the start or update button

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.

Hal_Al
Level 15

CA State tax withholding from the sale of a second home is reported on form CA-593, where is federal tax withheld on the sale reported?

If you had state income tax withheld, on the real estate sale, there is a place in TurboTax (TT) to enter that so that it shows up (you get credit for it) on your state return.

 

It's actually entered in the federal section of TT. 

In TurboTax (TT), enter at:

Federal Taxes Tab

Deductions & Credits

-Scroll down to:

--Estimates & other taxes paid

   -Other Income taxes

On the next screen, scroll down to

     -Other income taxes paid in 2019  

       -  Withholding not already entered on a W-2 or 1099
         -On the next screen, enter the amount of withholding and the state

 

CA State tax withholding from the sale of a second home is reported on form CA-593, where is federal tax withheld on the sale reported?

Here are my old notes on how to enter it.

To Enter it go to the state tab and step though all the screens (many screens) until the very end and it will ask for Any Real Estate or other withholding forms.  But then it says to also enter it under the Federal side.  So go to.....

Federal Taxes (or Personal for Desktop HB)

Deductions and Credits

Then scroll way down to Estimates and Other Taxes Paid

Other Income Taxes - Click the Start or Update button

 

Next page scroll down to bottom section Other Income Taxes Paid

Click Start or Update by Withholding not already entered on a W-2 or 1099

 

Then you need to go though the CA return to the very last screen and put it in again so it shows up on the CA 540 line 73 for Real Estate Withholding and not line 71 as income tax withholding.

CA State tax withholding from the sale of a second home is reported on form CA-593, where is federal tax withheld on the sale reported?

I don't know what you mean by your first statement, "go through many screens". I have already gone through my state taxes, what part to you want me to re-visit?

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