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sunbuck7
New Member

I have been buying, fixing up homes and selling. I purchased an old house in 2013, tore it down and built a new home. I sold it in 2016. How do I report it in TT?

I lost money on the transaction ... where do I report the loss?
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Accepted Solutions
KarenL2
Level 5

I have been buying, fixing up homes and selling. I purchased an old house in 2013, tore it down and built a new home. I sold it in 2016. How do I report it in TT?

If you didn't rent it, you can go ahead and report it as a normal investment sale.

Where to enter your sale:  While inside the software and working on your return, type investment income (gains and losses) in the Search at the top of the screen (you may see a magnifying glass there).  There will be a popup that says Jump to investment income (gains and losses).  Select that to get to the general area.  

Then, you will see Stocks, Mutual Funds, Bonds, Other. Select that area.  The software will walk you through it.  Just pay attention to any blue colored text links or Learn More links for additional assistance.


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1 Reply
KarenL2
Level 5

I have been buying, fixing up homes and selling. I purchased an old house in 2013, tore it down and built a new home. I sold it in 2016. How do I report it in TT?

If you didn't rent it, you can go ahead and report it as a normal investment sale.

Where to enter your sale:  While inside the software and working on your return, type investment income (gains and losses) in the Search at the top of the screen (you may see a magnifying glass there).  There will be a popup that says Jump to investment income (gains and losses).  Select that to get to the general area.  

Then, you will see Stocks, Mutual Funds, Bonds, Other. Select that area.  The software will walk you through it.  Just pay attention to any blue colored text links or Learn More links for additional assistance.


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