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If you sold a second home in 2018, you report it on Schedule D of your return. To access that area of your return, type "sale of second home" into the search box and click on the "Jump to sale of second home" link. Follow the program prompts to enter the details of the sale.
You may choose to take the Standard Deduction, rather than itemizing your deductions, if it is more beneficial for you to do so. TurboTax asks you to enter your deductions, however, to help you determine which method provides you the most benefit, then allows you the opportunity to choose. You can skip that portion of the interview if you don't want to enter them but, in some cases, taxpayers who also file state returns find that they may want to choose the standard deduction for their federal return but choose to itemize on their state return, so that is why TurboTax asks about your deductions.
If you sold a second home in 2018, you report it on Schedule D of your return. To access that area of your return, type "sale of second home" into the search box and click on the "Jump to sale of second home" link. Follow the program prompts to enter the details of the sale.
You may choose to take the Standard Deduction, rather than itemizing your deductions, if it is more beneficial for you to do so. TurboTax asks you to enter your deductions, however, to help you determine which method provides you the most benefit, then allows you the opportunity to choose. You can skip that portion of the interview if you don't want to enter them but, in some cases, taxpayers who also file state returns find that they may want to choose the standard deduction for their federal return but choose to itemize on their state return, so that is why TurboTax asks about your deductions.
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