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New Member
posted Jun 3, 2019 10:21:09 AM

How do I report a loss on the sale of real property?

0 3 667
3 Replies
Intuit Alumni
Jun 3, 2019 10:21:12 AM

What type of real property?  land?  second home?

New Member
Apr 14, 2020 6:46:59 PM

Where do I report the gain/loss from the sale of my second home?

Level 15
Apr 14, 2020 6:55:04 PM

Tto enter this sale of a second home in TurboTax Online or Desktop, please follow these steps:

  1. Once you are in your tax return, click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
  2. Next click on “Wages & Income” ("Personal Income" in TurboTax Home & Business)
  3. Next click on “I’ll choose what I work on” (jump to full list)
  4. Scroll down the screen until to come to the section “Investment Income”
  5. Choose “Stocks, Mutual Funds, Bonds, Other” and select “start’ (or “update” is you have already worked on this section)
  6. The first screen will ask if you sold any investments during the current tax year (This includes any sale of real property held as an investment property so answer “yes” to this question)
  7. Since you did not receive a 1099-B, answer “no” to the 1099-B question
  8. Choose type of investment you sold - select Second Home