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New Member
posted Oct 16, 2019 5:04:38 PM

How to correct reporting sale of second home from main home to second home? Sale was at a loss.

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1 Best answer
Level 15
Oct 20, 2019 4:11:03 PM


@dnaue wrote:

When I did what you suggest the only difference I saw was that the word 'main' was taken off of the IRS Form 8949 with the Form D looking exactly the same. Do you think that this is correct? 


Yes, it should be correct. Please understand that there is virtually no difference between the two types of transactions since you cannot recognize (deduct) a loss on personal use property, like a second home.

3 Replies
Level 15
Oct 16, 2019 6:29:33 PM

If you mistakenly entered a sale of your second home as your main home, simply delete the sale from the Sale of Home (gain or loss) section and enter the sale of your second home in the Stocks, Mutual Funds, Bonds, Other section and check Second Home on the following screen (see screenshot).

 

 

New Member
Oct 20, 2019 3:56:10 PM

When I did what you suggest the only difference I saw was that the word 'main' was taken off of the IRS Form 8949 with the Form D looking exactly the same. Do you think that this is correct? The sale of the home was a loss sale. What forms do I need to send to the IRS since this would be amended return for 2018?

Level 15
Oct 20, 2019 4:11:03 PM


@dnaue wrote:

When I did what you suggest the only difference I saw was that the word 'main' was taken off of the IRS Form 8949 with the Form D looking exactly the same. Do you think that this is correct? 


Yes, it should be correct. Please understand that there is virtually no difference between the two types of transactions since you cannot recognize (deduct) a loss on personal use property, like a second home.